Bitcoin Vs. Gold: Russia-Ukraine War Shows BTC Advantages

The whole world keeps its eyes on the conflict between Russia and Ukraine, and the crisis is affecting the markets as well.

The crypto market has shown its resilience since it all started, and it seems that Bitcoin is showing more and more advantages these days as well.

According to the latest reports, Coin Metrics co-founder Nic Carter is outlining the advantages leading digital asset Bitcoin (BTC) has over traditional commodities such as gold.

In a new interview with Peter McCormack on the What Bitcoin Did podcast, Carter explained the fact that compared to BTC, gold has a lot of problems that can’t be overlooked.

As you probably know by now, nations all over the world are applying sanctions for Russia and they are also seizing its assets for its part in the war in Eastern Europe.

Amidst this scenery, Carter says that the country is lucky that its gold reserves were stored in Moscow.

He also made sure to point out the fact that Russia probably would’ve had a difficult time trying to protect its assets, highlighting the utility of Bitcoin (BTC).

“The thing is that gold also has many problems. It’s hard to send, it’s not very transmissible, it’s hard to take physical delivery. Russia is kind of lucky in a sense. Their gold is in Russian vaults, in Moscow I believe.”

He continued and said this:

“They’ve got like $130 billion worth of gold. That was the only thing the US couldn’t seize. The US is actually trying to figure out a system to stop anyone trading with them for the gold, but they still have the gold, for what its worth.”

He also explained the fact that most other central banks hold their gold in London or NYC physically, “because that’s where the gold markets are and they want the gold to be pretty liquid and market-available.”

He said that if they really offended the US or the whole international community, then even their gold would vanish just like that because it would be held with a custodian that is in the US or the UK.

Check out what more he had to say in order to learn all available details about all this.