- Is Bitcoin actually more vulnerable to confiscation?
- “It can certainly go up”
In a recent social media post, Canadian billionaire Frank Giustra argues that it is easier to confiscate Bitcoin compared to gold
The argument that Bitcoin is easier to confiscate than gold cuts directly against one of the asset’s most cherished myths: that it is inherently resistant to state power
Is Bitcoin actually more vulnerable to confiscation?
Bitcoin’s design makes ownership transparent in a way gold has never been. Every transaction is permanently recorded on a public ledger. Addresses can be clustered, and different types of behavior can be analyzed
Confiscation does not require physical access, given that it is sufficient to have enough legal authority and leverage over custodians, service providers, or the individual holder. As noted by Giustra, America’s national Bitcoin reserve is entirely comprised of confiscated coins
Gold, by contrast, exists largely outside digital systems. Physical possession still matters. It can be stored privately, moved discreetly, and transferred without leaving a global audit trail
Confiscating gold is logistically expensive and politically visible. It requires search, seizure, storage, and enforcement at scale
Bitcoin requires none of that. A court order, an exchange subpoena, or pressure applied to a custodian can achieve the same outcome with far less friction. This should give investors pause
“It can certainly go up”
Despite recognizing Bitcoin’s flaws, Giustra does not think that the flagship cryptocurrency will disappear overnight. In fact, he does not rule out that it might even go up in price
“I never said it would disappear, and I have always said it can certainly go up in price. Never been my point,” he said
The Canadian tycoon takes issue with the methods, with the help of which the flagship cryptocurrency is being promoted to the general public. He claims that this promotion is mostly based on “greed and FOMO.”
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