The survey carried out by former Texas congressman Ron Paul where more than 43,000 social media users participated has shown that the majority of respondents, about 51 percent, prefer bitcoin over gold, US Treasury Bond, and the US dollar. This is against the initial perspective about Bitcoin as inferior to Gold
Poll conducted by former Texas congressman Ron Paul
On 6th December, Ron conducted a survey on Twitter to evaluate preference among users and general consumers on various stores of value. Paul offered four choices which are the USD, Gold, Bitcoin, and 10 Year US Treasury Bond. He added this question:
“A wealthy person wants to gift you $10,000. You get to choose in which form you’ll take the gift. But there’s a catch: You must keep the gift in the form that you choose, and you can’t touch it for 10 years. In which form would you take the gift?”
Over 21,900 respondents prefer bitcoin over the US dollar, gold, and US Treasury Bond as a better store of value and safe haven asset.
Is Bitcoin actually the Most Legitimate and Robust Store of Value?
On 22nd October during the Money20/20 conference held in Las Vegas, Apple co-founder Steve Wozniak stated that bitcoin as a stable store of value is better than gold and the US dollar. He emphasized the finite supply of bitcoin capped at 21 million and the decentralized structure of the cryptocurrencies as the two attributes that enable bitcoin to be the best store of value in the global market.
Wozniak also noted that while the US dollar and gold can be printed or mined indefinitely, there exists a supply of bitcoin which provides a maximum amount of bitcoin that can be produced.
“Gold gets mined and mined and mined. Maybe there’s a finite amount of gold in the world, but Bitcoin is even more mathematical and regulated and nobody can change mathematics,” said Wozniak, commenting on the transparent and peer-to-peer protocol of bitcoin.
In an interview with Fox Business, major US-based electronics retailer Overstock CEO Patrick Byrne also noted that in the long-term, general consumers will switch from the fiat currency system to real money like bitcoin and gold.
Byrne’s prediction of the shift in trend from fiat currencies to bitcoin and gold was accurately depicted by the survey by Ron Paul, which demonstrated that more than 90 percent of the 43,000 respondents prefer bitcoin and gold over the US dollar and 10 Year US Treasury Bond.
“… It’s about time the world switches to real money. Either gold or bitcoin,” said Byrne, noting that fiat currencies have been declining over the past few years.
Would you also prefer Bitcoin over Gold and Fiat money? Let’s hear your view