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Bitcoin (BTC) advocate Samson Mow has made a very hilarious statement that showcased the false diversification of some of his capital from the premier digital currency into Gold.
Hedging Bitcoin bet with Gold
Over the past few years, there has been a deep conversation and debate regarding Bitcoin and Gold supremacy. While many Bitcoin proponents have chosen between these two asset classes, Samson Mow has, until now, been silent about his views on Gold.
Gamza KhanzadaevThe Bitcoin bull shared a picture of Ouro Portuguese Gold with a caption that suggests he bought some gold bars while on his way from the Bitcoin Atlantis conference that took place in Madeira, Portugal. However, what he actually acquired were Portuguese Sardines shaped as Gold fillets.
The joke, however, showed the ongoing conversation surrounding Bitcoin and Gold. Financial leaders like the "Rich Dad Poor Dad" author Robert Kiyosaki are known to favor a diversified asset portfolio with a heavy Gold component.
Gold has served as the de facto hedge against inflation and fiat devaluation for decades. With the emergence of Bitcoin, the sentiment shifted to Bitcoin, especially as its total supply is limited to 21 million, unlike Gold whose supply is unlimited.
As a major Bitcoin bull, it is unlikely that Samson Mow will make a bet on Gold soon.
Samson Mow on Bitcoin ETF attractiveness
One of the major catalysts behind the advocacy by Samson Mow to investors and nation-states to buy Bitcoin is the influence of spot BTC ETF products. While the United States market is thriving with massive inflows into the product over the past two months, Hong Kong is now making a move to list spot Bitcoin ETFs as well.
Arman ShirinyanIn a separate post on X, Samson Mow highlighted the attractiveness of the Hong Kong version, which will allow in-kind creates that will see investors make their redemption with the underlying physical Bitcoin.
Gamza Khanzadaev
Tomiwabold Olajide
Dan Burgin
U.Today Editorial Team
Vladislav Sopov