Make Kitco Your Homepage

Ron Paul's Twitter Followers Stay Committed To Bitcoin Over Gold

Kitco News

Ron Paul’s Twitter Followers Stay Committed To Bitcoin Over Gold

(Kitco News) - Despite bitcoin falling below $5,000 on Monday, Ron Paul’s Twitter followers once again chose the popular cryptocurrency over gold in the former Republican Congressman’s annual Twitter poll.

The conditions of the poll remained the same as last year: “A wealthy person gifts you $10,000. You get to choose in which form you’ll accept the gift.”

The catch was — “You must keep the gift in the form that you choose for 10 years without touching it.”

Paul’s Twitter followers had to choose between the Federal Reserve Notes, gold, bitcoin, and the U.S. 10-Year Treasury bonds.

Out of the 94,894 votes cast over the weekend, the clear favorite was once again bitcoin, as 50% of the respondents chose the cryptocurrency over the other options, revealing how resilient they are in light of extreme price volatility this past year.

Last year, bitcoin surprised the market by first surging to nearly $20,000 in December and then dropping around 50% of that value in just a couple of months.

Now, following a few months on little price action, volatility is back, with bitcoin hitting a fresh 13-month low of $4,855 on Monday and last trading at $4,944.90, up 0.49% on the day, according to Kitco’s aggregated charts.

Gold was in the second place this year, with 37% of Paul’s Twitter followers saying that they would prefer the gift in the form of the yellow metal.

The U.S. 10-Year Treasury bonds, with 11% of the vote, were in the third place, and the last spot was occupied by the Federal Reserve Notes, with just 2%.

Below are a few comments people gave when participating in the poll:

The results were very similar to last year’s. In 2017, a total 70,513 people voted, and 54% of them chose bitcoin. Gold came in second place with 35% of the vote, followed by 10-Year U.S. Treasury Bonds with 8%. Federal Reserve notes were in the last place with only 2% of the vote.

When speaking to Kitco News last year, Paul said he was “surprised” by the results

“It was information for me to tell me what my viewers are thinking…[And I] was surprised that many people would stash away [in bitcoin],” Paul said.

Paul is a well-known critic of the Federal Reserve and an advocate of holding gold, who had previously campaigned to audit the central bank and return to a gold standard.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.