Former Republican Congressman Ron Paul has been spearheading the movement towards sound money for over 25 years. He has continuously advocated and educated his base on the benefits derived from gold as money that not only provides a unit of account and a medium of exchange but also a store of value.
However, in December 2017, Ron asked his supporters to rate bitcoin versus gold, dollars, and Treasurys. 70,000 of his followers voted, and the consensus was Bitcoin.
A wealthy person wants to gift you $10,000. You get to choose in which form you’ll take the gift. But there’s a catch: You must keep the gift in the form that you choose, and you can’t touch it for 10 years.
In which form would you take the gift?
— Ron Paul (@RonPaul) December 5, 2017
I guess this could enact as concrete evidence to diehard gold bugs that the movement towards decentralized technology is very real. However, cryptocurrency still has a lot to prove with regards to being a reliable store of value.
In honor of Ron Paul, this video of him taking Ben Bernanke to school never gets old.