29 Apr '13, 5pm

Big VC Says Bitcoin Is 'Gold 2.0. It's a Huge, Huge, Huge Deal'

I personally own Bitcoin in my hedge fun, I own Bitcoin in my fund, I own Bitcoin in my private account. It is a huge deal. It’s a huge, huge, huge deal. Because what you’re talking about right now is, for the next three to five years, an unbelievably better stored value. It is gold 2.0. Right? The value of gold that hedges the world economy, about $9 trillion, right? Thirteen hundred an ounce, of which only a hundred to a hundred and fifty dollars is the actual production value. So all the rest is imputed…. Well, guess what? I can do the same thing with Bitcoin only I can do it outside the purview of every single government. It’s being used everywhere you would think it would be used. Russia, Iran, Iraq, Egypt, Venezuela, Argenina. Everywhere you have currency pressure. Everywhere you want to basically shield your assets. And then, after that, it will probably become a pa...

Full article: http://www.forbes.com/sites/jeffbercovici/2013/04/29/big-...

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