“Gold’s role, therefore, has not been to be a performant store of value, which is why we don’t find it on virtually any corporate balance sheets globally. Instead, it’s more of a pure defensive store of value, physically held by nation-states and households in reserve for worst-case economic scenarios, or as a portfolio diversifier relative to bonds. Gold has been

particularly useful as an accessible and reasonably liquid store of value in developing countries with less-performant stock markets and ever-devaluing currency, but it is lackluster when there are better options available and when you’re trying to keep up rather than merely play defense.” – nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a