Analyst PlanB Compares How Easy Bitcoin Is To Manipulate Vs Gold

The infamous crypto analyst, known as PlanB is looking into a specific Bitcoin (BTC) property that makes it harder to manipulate than gold, according to him.

In a recent interview, PlanB shared with YouTube personality Robert Breedlove that gold’s intrinsic properties make it difficult to physically collect.

The analyst points out that vault and insurance costs can run about 1% of a gold collection’s value each year, and expensive transportation fees can further add to those costs.

Bitcoin does not have these disadvantages due to its digital nature, PlanB notes.

“So gold has this very intrinsic thing where you’d rather have the paper gold than the physical gold. But Bitcoin doesn’t have that disadvantage that gold has. The delivery is easy. The delivery is fast. The delivery is cheap, and holding it is so superior to holding gold.

But once it is illegal or made impossible to withdraw gold, then that opens the door to manipulation, because then it’s basically a fiat world, and it’s very comparable to 1971, when Nixon basically said, ‘Well from now on, you cannot withdraw the gold anymore.’” 

The analyst shares that he uses exchanges for only selling and buying Bitcoin, and not for custody. He says there’s a risk that traders could at some point be prohibited by governments from physically withdrawing their Bitcoin to personal storage.

“Once that aspect of Bitcoin is lost, then Bitcoin is lost in my view…

Right now, that makes Bitcoin manipulation very hard versus gold manipulation which is very easy.”