Bitcoin is Preferred Long-Term Investment Option, Ron Paul Finds
Nearly 60 percent of people favor Bitcoin as a long-term investment rather than gold or federal reserve notes. That’s according to a survey posted by former U.S. Congressman and presidential candidate Ron Paul.
Which Would You Pick?
Yesterday, Paul of Texas, posted a question to his nearly 650,000 followers on Twitter.
A wealthy person gifts you $10,000. You get to choose in which form you’ll accept the gift. But there’s a catch: You must keep the gift in the form that you choose for 10 years without touching it. In which form would you accept the gift?
The options he gives are Federal Reserve notes, gold, Bitcoin, and a 10-year U.S. Treasury bond. At the time of publishing, nearly 70,000 votes have been cast with four hours left.
So far, Bitcoin is in first place with 58 percent of the votes, followed by Gold with 33 percent. The Treasury bond and the Federal Reserve notes have seven percent and two percent, respectively.
One user stated that the easy choice was gold. The reason? “Currency will depreciate. Bitcoin is something you need to monitor closely, big swings. Treasuries have no return so you would still lose value.”
Another, going by the name of Dr. Bitcoin M.D., argues that even though Bitcoin has only been around for 10 years, it is “far superior as a monetary medium based on its fundamental properties.”
This isn’t the first time that Paul has mentioned crypto. Back in July, during an interview with CNBC’s “Squawk Alley,” the former Congressman said that cryptocurrencies were “a great idea” and that he was in favor of crypto assets and the blockchain because of his like for competing currencies.
Notably, in 2014, he expressed his concerns with the backing of crypto, particularly when it comes to fraud, but overall delivered a pro-crypto stance.
Paul’s tweet follows after he received, what is believed to be, his first Bitcoin from Bobby Lee, board member of the Bitcoin Foundation and founder of Bitcoin wallet Ballet Crypto.
Taking to Twitter last week, Lee announced he had given the gift, adding that it had a special serial number to match Paul’s birthday.
— Bobby Lee – Ballet: Simple & Elegant Wallet (@bobbyclee) November 2, 2019
The gift was given during Litecoin Summit 2019 in Las Vegas and was also presented in the presence of Charlie Lee, brother of Bobby Lee and Founder of Litecoin.
Which one would you pick on Ron Paul’s survey and why? Let us know in the comments below.
Images via Shutterstock, Twitter @bobbyclee