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Grant Cardone advised not to rush into selling Bitcoin amid gold rally
Cardone calculated that gold prices have risen by more than 50% this year, outperforming Nvidia’s returns. However, Bitcoin — the world’s largest cryptocurrency by market capitalization — remains an effective store of value with strong long-term potential, the entrepreneur said. He noted that investors have been turning to alternative assets to protect themselves from a potential U.S. economic downturn and the weakening of the U.S. dollar.
According to Cardone, Bitcoin may currently be more volatile than gold, but he believes that in the coming years, technological innovations will “dull the shine” of the precious metal. Automation and the introduction of robotics could reduce gold’s scarcity by lowering labor costs in mining.
Cardone suggested that once Tesla CEO Elon Musk launches his robotics initiative Optimus, gold could be mined 24/7, without weekends and without any labor expenses. The amount of gold mined is limited by the number of people capable of extracting it, he explained. In contrast, Bitcoin’s supply is capped at 21 million coins, with 2093 expected to be the year of mining the penultimate Bitcoin. This scarcity continues to drive its value higher.
“Don’t be foolish. I wouldn’t rush to sell. For every Bitcoin you sell, you’re losing a million dollars,” Cardone said.
Earlier, billionaire and Dallas Mavericks owner Mark Cuban called Bitcoin a modern investment tool that allows people to preserve their savings during crises — while comparing gold to a museum relic.
See also: "Bitcoin’s share revealed in crypto assets stolen by North Korean hackers"
