I have been wondering who is the real king of risk aversion, gold or BTC.

A scene that happened in Dubai yesterday gave the answer directly.

Someone at the scene held a gold bar and asked in front of Peter Schiff (a gold die-hard fan): "Can you be sure that this is real gold?" "

Schiff paused for a few seconds, and finally could only say, "I'm not 100% sure." "

This sounds magical, but the official statement given by the London Bullion Market Association is even more heart-wrenching - want to thoroughly verify the authenticity of gold? There is only one way: throw it into the fire and burn it, melt it, destroy it, and you can know the quality.

What about Bitcoin? In seconds, the global network is automatically verified, no expert endorsement, no lab equipment, and no loss. Mathematics and consensus mechanisms are the hardest audit tools.

For 5,000 years, the core logic of gold has been regarded as hard currency: scarcity.

But if this scarcity cannot be verified at all, then where is its value support?

The cruel reality is that about 5% to 10% of the world's physical gold is at risk of counterfeiting. Vaults, gold bars, circulation links...... Every step depends on trust, relying on "trusting that the other party will not lie to you".

Bitcoin does not need to trust anyone at all.

Gold is currently valued at about $29 trillion, supported by "everyone believes it's true."

Bitcoin has a market capitalization of $1.8 trillion, and it is supported by "everyone can verify that it is true at any time."

When even the most well-known gold fans can't tell the authenticity of gold bars on the spot, everything is clear:

An asset that cannot prove its innocence will sooner or later lose its currency premium to a digital asset that can prove itself to the world every ten minutes.

The question is now not "whether Bitcoin is a currency".

The real question to ask is "Is gold really verifiable from the start?" "

The reallocation of institutional funds has long begun.

The conversation you saw yesterday was not so much a debate as a farewell ceremony of an era.