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Dan Morehead Urges US to Shift $600B Gold Reserves to Bitcoin

Dec 13, 2024, 03:17 PM

Billionaire investor Dan Morehead, founder of Pantera Capital, has publicly stated that Bitcoin is a superior asset to gold, citing its advantages in terms of scarcity and digital functionality. Morehead emphasized that the U.S. holds $600 billion in gold reserves and suggested that the country should consider moving towards 'digital gold,' or Bitcoin, arguing that it is much better suited for wealth storage in the modern digital era. He also noted that the U.S. already owns approximately 1% of the world's Bitcoins, suggesting an increase in this holding would be rational.