When it involves recognition as “money” and a “store of value,” bitcoin outcompetes gold on its practicality and flexibility, stated Clem Chambers, CEO of ADVFN and creator of the bestseller “101 Ways to Pick Stock Market Winners.”
“I could not take enough gold out of the country for it to be useful to me if I had to leave the country; if I was a South Korean and I thought the North was going to drop a bomb on my city, if I was an Iranian that was running away from people in Iran. There are all sorts of reasons why I would want to take a lot of money abroad. I can’t take more than $10,000. In gold, I can’t carry enough, it’s too heavy. I can’t take, say, 20 kilos of gold to the airport,” Chambers informed Kitco News.
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