Will Bitcoin Demonetize Gold?
Monetary Metals CEO Keith Weiner defends the future of gold against bitcoin podcaster Pierre Rochard.
Will gold remain an important form of money, or are cryptocurrencies like bitcoin set to overtake it?
That was the subject of a Soho Forum debate held on July 26 at the Mises Institute in Auburn, Alabama, as part of Mises University, an annual instructional program in the Austrian school of economics attended by over 80 accepted students from around the country.
Keith Weiner, CEO of Monetary Metals, defended the resolution: "Gold will remain an important form of money in the 21st century." Weiner took the position that gold is poised to hold on to the monetary status it's enjoyed for the past 5,000 years and that its recent performance only confirms why.
Pierre Rochard, co-host of the Bitcoin for Advisors podcast, took the negative, arguing that the technological advantages of bitcoin will make it the preferred medium of exchange in a post-dollar world.
This debate was moderated by Soho Forum director Gene Epstein.
Narrated by Nick Gillespie; edited by Clay Barnett and John Osterhoudt