Former Republican Congressman and Gold Defender, Ron Paul said that He was "surprised" to learn that more than half of his Twitter followers prefer to invest in bitcoin than gold.
Ron Paul 'Surprised & # 39; His Followers Prefer Bitcoin to Gold
As NCC reported, Ron Paul, a libertarian fagot, conducted an informal poll asking respondents to invest a $ 10,000 donation matching a chain – you can not touch the investment for 10 years. Voters had the choice between four options: US dollars, gold, bitcoin or a US Treasury loan.
A rich person wants to give you $ 10,000. You must choose in which form you will take the gift. But there is a trap: you have to keep the gift in the form you choose, and you can not touch it for 10 years.
In what form would you accept the gift?
– Ron Paul (@RonPaul) December 5, 2017
More than half of the 70,513 respondents chose bitcoin, while 36% said they preferred the long-term stability of gold. Only 10% of voters responded that they would prefer to hold the investment in cash or government bonds.
Paul, who is currently the main ambassador of precious metals supplier IRA Goldco, told Kitco News that he was somewhat surprised by the survey results, but he was reassured not to entrust his investment to a financial instrument related to the government.
"It was a reflection of what happened today," said Paul, referring to the cinematic rise of Bitcoin. "Of course, bitcoin is very exciting, and it's booming, but [bitcoin investors] has no long-term perspective.What is it going to be in 10 years? Nobody But we have a pretty good idea of where the gold will be, in a general sense. "
Of course, this is not a scientific survey. On the one hand, the fact that Paul designed the investment as a gift – and not as the money earned personally by the investor – could have made respondents more willing to bet on a asset more risky.
In addition, the survey was posted on Twitter, which users tend to skew young people – just like cryptocurrency investors. On the other hand, Goldbugs tend to be from an older generation that uses social media at a lower rate. As a result, this may not accurately reflect the current investment landscape, but rather it may be in the coming decades.
Ron Paul does not join the Bitcoin bandwagon
But although the apparent demand for bitcoin among his followers caught Paul a little off guard, there was one aspect of the poll that did not surprise him.
"I was not surprised that only two percent store Federal Reserve banknotes, that was fine," said Paul, who wrote a book entitled End of the Fed . He took this result as proof that investors are frustrated by an inflationary monetary policy that devalues currency over time.
Nevertheless, Paul said that although he finds fascinating cryptocurrency as an experiment in competing currencies, he will not join the bitcoin train.
"I have not been tried at all," he said.
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