According to the head of the company, the nature of bitcoin and gold are very different. They have different investor groups, which will drift further apart over time. Bitcoin was originally developed as a tool for settlement, not as a means of accumulating and preserving capital.
- Bitcoin owners or issuers try to equate bitcoin to gold as much as possible, positioning it as an instrument of accumulation and preservation, which, of course, is not successful against the volatility of this instrument," Grachev explained and added that gold itself is "quasi-money".
The head of Polyus clarified that he does not own bitcoins and does not know where to buy them. At the same time, he does not own gold either, since its purchase in Russia is subject to VAT. It makes no sense to invest in the purchase of metal. Grachev thinks9 it is easier to buy shares in a gold mining company.