GoldMoney CEO Calls for ‘Economic Society’ Between Bitcoiners and Gold Bugs

Sebag proposes an “economic society” between the Bitcoin and gold communities. He says that both industries need better political representation, which they can achieve together.

Bitcoin and Gold: Can’t We All Just Get Along?

If you were to take the most vocal gold bug’s opinions as representative of the wider industry, you’d be forgiven for thinking that every fan of gold vehemently detested Bitcoin. As BeInCrypto has reported on numerous previous occasions, Peter Schiff, the CEO of Euro Pacific Capital, makes no secret of his disdain for all things cryptocurrency. However, that’s apparently not reflective of the rest of the industry. The CEO of GoldMoney, an industry leader in the custody of precious metals, says that the communities surrounding both Bitcoin and precious metals need to exercise greater unity going forward. On Twitter earlier today, Roy Sebag advocated the immediate creation of an “economic society” for the “organized advocacy of sound money principles.”

The bitcoin and gold communities need to form an economic society right now. Goldmoney would be happy to contribute to help fund the effort if we can get a buy-in from others. What's missing from the political discourse is organized advocacy for sound money principles.

— Roy Sebag (@roysebag) March 18, 2020

The CEO added that his company, GoldMoney, would be willing to provide funding to the effort, if other firms were on-board with it. Max Keiser, one of Bitcoin’s most consistent proponents, commented that resistance to the idea was unlikely to come from the Bitcoin side of the divide. The RT presenter and host of the Keiser Report added:

“Not sure the gold folks are ready for it yet, though.”

It’s a Nice Idea, but…

As Bitcoin and gold largely derive their value from a collective belief in said value, it would make sense that those that can see the merit of one would also be able to see the merit of the other. Bitcoin’s fixed supply and gold’s scarcity in comparison to other materials have been the rationale behind many calling Bitcoin a digital version of the precious metal. However, that’s by no means universally acknowledged. As those commenting on the above tweet highlighted, Peter Schiff perpetually trying to discredit the cryptocurrency industry is not a good backdrop for any such unity between the two sound money camps. That said, many do actually seem in favor of the idea too:

Quite agree. The young crypto industry needs serious associates.

Old money and new money representing sound money.

🙏

— Z E R O F L O W .crypto (@3Colzero) March 18, 2020

So far, no companies have publicly come forward with financial support for Sebag’s sound money “economic society” idea. BeInCrypto will bring additional coverage on this story if warranted.