Exclusive: US Gold Corp Founder Says Gold Could Provide 'Incredible Returns' In Years Ahead
On a day when the talk of the markets is all things cryptocurrency-related, gold certainly has its place as well, U.S. Gold Corp (NASDAQ:USAU), founder Ed Karr said Wednesday on Benzinga's YouTube show "Power Hour."
Investors can be bullish on both gold and cryptocurrency, Karr said. The longevity of cryptocurrency is uncertain, but the U.S. Gold Corp founder told Benzinga that gold has been around for 10,000 years and will still be around in another 50-100 years — "guranteed."
"Bitcoin (CRYPTO: BTC) is too new" to consider it the gold of cryptocurrrency, Karr said.
Gold can be viewed as insurance, while Bitcoin is more of a speculative asset, he said.
If Bitcoin went down 50%, gold might start getting more attention, so Bitcoin and gold are very different, he said.
As inflation continues to rise, Karr said he expects a flow into gold, adding that he expects gold do well in the second half of 2021.
The leverage that an investor gets when buying U.S. Gold Corp — opposed to buying physical gold — makes it an attractive investment, the company's founder said.
The company is located in the three best mining states, Karr said: Wyoming, Nevada and Idaho.
"Gold has the potential to really take off and trade much much higher in the years ahead," which could provide incredible returns, Karr said.
USAU Price Action: U.S. Gold Corp was down 1.19% to $9.96 at last check Wednesday.
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