New Money Review podcast

New Money Review podcast


Gold or bitcoin—which store of value?

December 21, 2020


One has been around for three billion years, the other for only twelve. Yet supporters of the upstart—bitcoin—say it can beat gold as a vehicle for long-term savings.


In the latest New Money Review podcast, fund manager Charlie Morris talks about the relative attractions of these two asset classes.


Morris, a long-time gold analyst, is chief investment officer at ByteTree Asset Management, a firm specialising in digital assets. He also edits the Fleet Street Letter, the oldest investment letter in the UK.


Few use bitcoin for everyday payments. We don’t do our accounts in bitcoin. Yet even the harshest bitcoin critics concede that it now has emerged as a store of value, fulfilling one of the three textbook functions of money.


Gold—an inert metal—also has only one principal use. It’s as a store of wealth that the yellow metal shines.


In the podcast, Morris says long-term investors should own both gold and bitcoin in their portfolios.


Listen to the podcast to hear about:



  • why bitcoin’s intrinsic value is in its network

  • how bitcoin differs from other network plays like Facebook

  • the cryptocurrency’s evolving supply and demand dynamics

  • how community innovations help solve blockchain problems

  • bitcoin, gold, inflation and deflation

  • bitcoin as a complement to gold in portfolios