Gold Vs Bitcoin: Which Doomsday Currency Is Better?

By Austin Smith Published Apr 18, 6:15AM EDT

Follow 24/7 Wall St. on Google

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Gold Vs Bitcoin: Which Doomsday Currency Is Better? — © Stanslavs / Shutterstock.com

In today’s episode of the 24/7 Wall St Podcast Doug McIntyre and Lee Jackson discuss bitcoin vs gold, and which doomsday currency would survive a complete collapse of the electrical grid.

Transcript:

If you’re looking at commodities, and I saw this today, gold has often been just like the total if everything goes to zero or if oil goes to 150.
But the one interesting thing I heard today is gold versus Bitcoin is that What if the electric grid went down in some sort of mass explosion? Which it could. Right.
Well, how would you ever get to your Bitcoin if the electric grid goes down?
So I think that’s why people are going to Costco to buy gold.
Yeah, leaving aside whatever people think about Bitcoin. That’s a very good… Right.
You know, at some point, we’re not going to do it today, but it’s worth looking at what happens to various parts of the investment world if the grid goes down, because it isn’t just the problem of overuse of electricity coming down from Canada, in my case, in New York.
It’s… You know, there are people who’ve hacked into this. Probably the Chinese haven’t done anything about it.
Don’t know if today they can do anything.
But the idea that the grid or pieces of the grid could come down in the United States.
Again, there are places, there are some flights to safety there.
They’re not a lot. No, not at all. I mean, that’s what we’re talking about.
Going back over, let’s go back to gold for a second.
Everybody thinks gold, gold, gold.
What are the other precious metals people should look at?
You know, most of them, especially mined commodities, they’re useful because they’re so used in industry.
Yeah. Silver, copper, things of that nature.
Other precious sort of metals, I guess, to some degree, uranium.
But not many people are holding that.
I don’t think so.
Yeah, I don’t think any are.
So I guess gold is going to be your winner, especially, again, since it’s being sold at Costco in great bulk.
I guess that’s the place to go get it instead of mining.
Yeah, I think that’s true.

About the Author Austin Smith →

Austin Smith is a financial publisher with over two decades of experience in the markets. He spent over a decade at The Motley Fool as a senior editor for Fool.com, portfolio advisor for Millionacres, and launched new brands in the personal finance and real estate investing space.

His work has been featured on Fool.com, NPR, CNBC, USA Today, Yahoo Finance, MSN, AOL, Marketwatch, and many other publications. Today he writes for 24/7 Wall St and covers equities, REITs, and ETFs for readers. He is as an advisor to private companies, and co-hosts The AI Investor Podcast.

When not looking for investment opportunities, he can be found skiing, running, or playing soccer with his children. Learn more about me here.