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The Perma Bears and Gold Bugs
Gold may be a store of value but how much value isn't clear. Value investors want to buy something for less than it's worth so why even bother is their perspective. The purpose of investing is to make money and there are a number of ways to do that. I personally chose to allocate to both gold and bitcoin because I foresee a good chance we see a lot of asymmetric upside in at least one or the other. That doesn't prevent me from investing in equities as well to get the long term benefit from those.