A notable economist known for contrarian market calls has recently taken a stance on the precious metals versus crypto debate. His thesis? Gold gets the nod, but Bitcoin doesn't make the cut for his portfolio strategy right now.

The position reflects a broader skepticism some macro analysts hold toward digital assets during uncertain economic conditions. While Bitcoin has proven its staying power as a store of value narrative, traditional hedges like gold still command respect among seasoned investors worried about systemic risks.

This divergence matters because it shows different inflation-hedging philosophies. Some old-school money managers see gold's millennia-long track record as more reliable when everything gets shaky. Others in the crypto camp argue Bitcoin's scarcity mechanism offers superior protection, especially for those with higher risk tolerance.

The debate underscores a key tension: is crypto a store of value comparable to gold, or is it still too young and volatile for serious wealth preservation? The answer depends heavily on your timeline and conviction level.