Bitcoin vs Gold: Which One Will Own The Future of Finance? | Bitcoin Simply

**Dante Cook** (0:00)
There's people questioning the US dollar status as the world reserve currency, and you know things are bad when it's coming from the vice president of the United States. I am not sure that I think the reserve currency is actually good for the United States of America. Some people believe that Bitcoin is the future.

**Nico Moran** (0:14)
What do you think about things like Bitcoin?

**Tristan Thompson** (0:16)
Oh, come on now, orange pill. If you look at my phone, it's orange, orange pill.

**Dante Cook** (0:21)
And some believe that gold's the future and are on the other side of the trade, like the Gold World Council CEO, David Tate.

**Paolo Ardoino** (0:28)
My personal opinion on Bitcoin is that it's going to go to zero.

**Dante Cook** (0:31)
The debate has gone on for a long time. What will be the better store of value as we move forward? Gold or Bitcoin? Tether, who just completed one of the largest financial audits on the planet, is betting on both. They're betting to the tune of over 100,000 Bitcoin and 150 tons of gold. Will the future global financial system be a mix of Bitcoin and gold, or will it truly be winner take all? Today, we're going to evaluate both sides and see who's going to be the true global winner. This is Dante Cook with Bitcoin Simpli.
Let's go.
All right. So there's been a lot of people out there who have questioned Tether, their financial stability, the quality of their organization, and whether or not that their liabilities have been backed by actual collateral for a long time. But just last week, they went through an audit done by an outside firm, KPMG, one of the biggest accounting firms in the United States, and they verified that Tether has 7 billion more in assets than they do liabilities, and that they actually do have the backing that they say that they do. Every time someone buys a USDT, there is a US Treasury purchased on the other side. They also have other collateral backing, other tokens and other products, mainly gold and Bitcoin. Tether is going to be an important part in the new financial system that's being built. I don't think that anyone is questioning that. And one of the reasons is because the United States has a lot of debt that they need to refinance into short-term loans. Meaning they have to find new buyers of short-term treasuries. The United States increasingly has to fund itself more through T-bills or short-term debt instruments rather than long-term debt instruments with the interest rates being so high. The only problem is you're more subject to rate swings and rate volatility. And that's where Tether comes in. They are going to be the new buyer of the short-term debt when they issue new USDTs or stable coins into the system. So it's important to understand what they do and what they think. Not because you like them or you agree with them or you don't believe that the audit was actually worth anything. It's because they're sitting at the center of global finance. And when they have 100,000 Bitcoin and 150 tons of gold, you have to pay attention as to what the next global financial system is going to be and what is going to be built on top of. Listen to their CEO Palo talk about the differences of how they think about Bitcoin and gold.

**Nico Moran** (2:41)
In Bitcoin, we have that beautiful way of saying, John Trust Verify, right? And I believe gold is a great instrument. Tether has amassed 150 tons of gold over the last few years, as well as a good portion of Bitcoin, like more than 100,000 Bitcoins. So with Bitcoin, it's fairly easy, right? So you can prove the ownership of a Bitcoin address. With gold, it requires a manual laborer.
That, of course, in order to make sure that the gold is true, the bars are correct and so on, you have just to be good at lifting and have good muscles.

**Dante Cook** (3:18)
Here's my problem with gold. In a world that's becoming increasingly digital, there's not going to be a number of people that have the wealth and the resources and the ability to audit gold, to make sure that they have what they say that they do. It's an expensive process. But excluding my thoughts, there are people that sit at these sovereign wealth tables, like gold world council CEO David Tate, who believe that physical assets like gold still have a seat at the global table, even if we're moving into a digital future.

**Nico Moran** (3:47)
I've heard the statement that gold is the true money.