The bitcoin vs. gold debate between gold financier Frank Giustra and the pro-bitcoin Microstrategy CEO Michael Saylor took place this week. In what viewers call an “epic” debate and a “historic” event, Saylor packed his arguments full of facts to convince Giustra to sell his gold and invest in bitcoin. Giustra, however, attacked how Saylor and the crypto community promote the cryptocurrency, calling it “cult behavior.”
The Bitcoin vs Gold Debate Between Michael Saylor and Frank Giustra
The debate between gold financier Frank Giustra and Microstrategy CEO Michael Saylor on the topic of bitcoin vs. gold premiered on Wednesday. The two-hour debate was hosted by Stansberry Research and moderated by Daniela Cambone.
Giustra is CEO of the Fiore Group, a private firm managing a broad portfolio of private equity investments and companies. He also founded Lionsgate Entertainment, one of the world’s largest independent film companies. Saylor is the CEO of Microstrategy, the company which has amassed almost 100K BTC in its treasury.
The debate covered six main topics: asset comparisons, risk factors, historical performance, supply dynamics, ownership structure, and market forces. Saylor said prior to the debate that he was “On a mission to convince Frank Giustrato to sell his gold and buy bitcoin.”
However, after listening to Saylor’s extensive argument about why bitcoin is superior to gold, Giustra is still not convinced he should sell his gold. Insisting on portfolio diversification, he focused on attacking the way the Microstrategy CEO promotes bitcoin in his closing remarks.
“You can’t keep on selling this as a guaranteed winning lottery ticket and as a cure for all the world’s ills, some Utopian fantasy you are selling here. This isn’t snake oil and you should stop selling it in that fashion,” Giustra opined. Calling the future that Saylor described, where the only asset class one needs to own is bitcoin,…