Ross Gerber Replaces Bitcoin With Gold In Michael Saylor’s Strategy To Make A Point: ‘This Actually Costs Money And Destroys Value’

Renowned investor Ross Gerber made a thinly veiled jibe at Strategy Inc.’s (NASDAQ:MSTR) model of holding Bitcoin (CRYPTO: BTC) on Tuesday, proposing a similar company focused on purchasing and storing gold.

Gerber Proposes Gold-Buying ‘Strategy’

Gerber sarcastically pitched opening a public company that buys gold. Investors could then buy shares in this company at a “1.5x premium” to the value of gold it owns, he added, alluding to Strategy shares, which trade at a premium to the firm’s net Bitcoin value.

“You can pay 1.5x the gold I own because the business of buying gold is so special it deserves a premium… or maybe it should be a discount… as this actually costs money and destroys value,” the CEO of Gerber Kawasaki Wealth and Investment Management said.

Gerber argued that gold and Bitcoin “are fine as they are,” suggesting that the model of having leveraged exposure is not viable.