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Bitcoin is a hedge against Elon Musk’s asteroid gold mining, say the Winklevoss twins

August 14, 2020

The Winklevoss twins conclude that Bitcoin (BTC) is a better investment than gold as the supply of metals will increase after Elon Musk starts mining asteroids.

In one interview With the internet personality and Barstool Sports founder David Portnoy, the Winklevoss twins claimed so Bitcoin is a better investment than gold because gold has no fixed supply::

“There are billions of dollars of gold floating in asteroids around this planet, and Elon [Musk] It will get there and start digging for gold. […] This is why gold is a problem because the supply is not fixed like it is with Bitcoin. “

Portnoy reasonably asked, “Is that a real statement?” to which the founders of the Gemini cryptocurrency exchange replied, “Yes.”

Bitcoin is a hedge against Elon Musk’s asteroid gold mining, say the Winklevoss twinsBitcoin is a hedge against Elon Musk’s asteroid gold mining, say the Winklevoss twins

To further reinforce the idea that gold is inferior to Bitcoin, One of the twins said “gold is for boomers” and added that bitcoin was “the only fixed asset in the galaxy”..

Space mining is not a new idea, in fact Planetary Resources, A company planning to mine asteroids with a 2016 profit has raised $ 50.3 million to date, according to the company’s data website, Crunchbase. As Cointelegraph reported in late 2018, the company was later acquired by Consensys, the Ethereum-focused blockchain company.

Some predict that as space technology advances, we could soon see a new space race between private companies looking to mine minerals in space.. CNBC suggested in May 2018 that materials found in the asteroid belt between Mars and Jupiter “are about $ 100 billion in wealth for every human on earth”.

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