And they’re here instructing non-believers on why cryptomonies are the best.
A Canadian restaurant chain known for serving shawarmas, hummus and other Middle Eastern delicacies has dropped some real bombshells about why Bitcoin (BTC) is a better stockpile than gold.
In a series of tweets, Ontario-based Tahini’s Restaurants explained why Bitcoin, and not gold, is the best way to preserve wealth.
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„We looked our financial advisor in the eye and told him that gold would become a scam because of bitcoin,“ Tahini tweeted, before explaining why „the gold years are numbered.
Contrary to what gold lovers think, the true value of the yellow metal comes from people and institutions that store it in vaults as a scarce good, the restaurant says.
Bitcoin changes all that. Tweets Tahini:
„Unlike gold, Bitcoin is a 100% monetary premium, which means it’s not used for electronics or other uses other than pure money.
„Bitcoin dematerializes value and makes it digital, making it easy to transfer value around the world without the need for third parties. We can move $100 million from Canada to the UK to Australia and back to Canada in 2 hours for up to $30.
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Add a critique of Peter Schiff for his reluctance to back bright metals and you have a surprisingly thought-provoking Twitter feed. It’s not necessarily what you’d expect from a Canadian restaurant chain.
Tahini previously expressed his disdain for gold in less eloquent terms earlier this month when he tweeted, „Gold is a piece of shit as a store of value?
Bitcoin will eat up gold’s market share, according to analysts at JPMorgan
A little context: Tahini made news in August when he announced that he would allocate all his cash reserves to BTC. The decision won him praise (and support) from the likes of Anthony Pompliano, Max Keizer, and Stacy Herbert.
But it’s not just a random Canadian restaurant that thinks gold is losing its allocation to Bitcoin. Even JPMorgan, Bitcoin’s archrival, believes that BTC is eating gold. The bank said:
„The adoption of bitcoin by institutional investors has only begun, while for gold, its adoption by institutional investors is well underway. If this medium- to long-term thesis proves to be correct, the price of gold would suffer a structural headwind in the coming years.
Aussie Trump invests in Bitcoin, because it is the „millennial version of gold“.
2021 has the potential to be an exciting year for Bitcoin. With institutional adoption underway, companies like Tahini are sending a strong message to small and medium businesses that their money is rapidly decreasing in value. Bitcoin is the only asset that’s designed to preserve purchasing power over time.