The Winklevoss Twins suggested that Bitcoin (BTC) is a better investment than gold because the supply of the metal will increase after Elon Musk starts mining asteroids.
In a interviewer with internet personality and founder Barstool Sports David Portnoy, the Winklevoss Twins argued that Bitcoin is a better investment than gold because gold has no fixed supply:
“Billions of dollars of gold are floating in asteroids around this planet, and Elon [Musk] will rise up and start gold. […] Therefore, gold is a problem because the supply is not fixed like Bitcoin. ”
Portnoy asked ridiculously, “Is that, like, a real statement?” to which the founders of Gemini cryptocurrency exchange replied, “yes.”
To reiterate the idea that gold is inferior to Bitcoin, one of the twins said that “gold is for boomers” and added that Bitcoin “is the only fixed asset in the galaxy.”
Space mining is not a new idea, in fact Planetary Resources – a solid plan to mine asteroids for profit founded in 2016 – has so far raised $ 50.3 million, according to business data website Crunchbase. As Cointelegraph reported at the end of 2018, the company was later acquired by Ethereum-focused blockchain company Consensys.
Some predict that with further development of space technology we could see a new space contest between private companies looking to mine minerals in space. CNBC suggested in May 2018 that materials in the belt of asteroids between Mars and Jupiter lay “wealth equivalent to about $ 100 billion for every individual on Earth.”
