"Mallers stated that bitcoin's onchain auditability gives it an edge over gold, emphasizing that no gold custodian can replicate this level of transparency and verification."
"Gold's verification process relies on physical custody inspections and third-party auditors, which cannot be independently verified by the public, unlike bitcoin's real-time onchain data."
Jack Mallers, CEO of Twenty One Capital, emphasized bitcoin's structural advantage over gold due to its onchain proof of reserves. This allows for real-time verification of holdings without third-party reliance. In contrast, gold requires physical audits and trusted intermediaries, making it less transparent. Twenty One Capital holds over 43,500 BTC, valued at approximately $3.9 billion, ranking third among public bitcoin treasuries. The firm has implemented a live proof of reserves system, enabling public audits of its bitcoin holdings directly on the blockchain.
Read at news.bitcoin.com
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