Crypto a ‘better bet’ than gold, says Ethereum cofounder Vitalik Buterin

Ethereum founder Vitalik Buterin has called crypto “the better bet” over gold, and that “gold has less adoption than crypto,” in response to a Twitter thread.

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Fast facts

• The Ethereum founder replied to the query of The New York Times bestselling author of Soonish, Zach Weinersmith, who questioned the benefits of crypto over gold.
• Buterin responded that gold is “incredibly inconvenient,” and “difficult to use when transacting with untrusted parties.”

• He further argued that gold “doesn’t support safe storage options like multisig,” referring to multi-signature cryptocurrency wallets that require multiple parties to authorize a transaction.

• “At this point, gold has less adoption than crypto, so crypto is the better bet,” concluded Buterin.

• The cryptocurrency vs. gold battle is a heated debate among investors looking for the best safe haven asset.
• Ether gained over 21% on the week, trading at US$1,556 at 3:30 p.m. in Hong Kong, while gold lost 1.6% in the same period, trading at US$1,661.

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