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


forkast.news 27 October 2022 08:19, UTC
Reading time: ~2 m

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.

See related article: Ethereum supply would have grown by 350,000 tokens under PoW

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.

See related article: Ethereum price undervalued since The Merge: report

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