GoldMoney Adds Bitcoin to its Suite of Services

The explosion in the price and popularity of Bitcoin over the past six months has caused a major rift within the precious metals community. It is quite clear which side I am on, and quite frankly, I am having a hard time understanding the outright hostility toward Bitcoin from many gold and silver stackers. The disdain toward Bitcoin borders on dogmatic religious type hostility characterized by a “gold and silver or nothing” mentality, while the attitude from folks in my camp consists of a “let’s support this experiment and see how it works” mentality, while still maintaining a very positive stance on the precious metals as a store of value. As I have said many times before, gold is a store of value, while Bitcoin is primarily a disruptive technology and innovative payment system that is now in direct competition with the traditional financial system. Seeing value in one, doesn’t preclude seeing value in the other.

It appears that the folks at GoldMoney understand this, and have just announced Bitcoin cold storage as a new service.

From the the UK’s Independent: 

One of the UK’s leading precious metals storage firms is adding an altogether more unusual commodity to its vaults – Bitcoin.

GoldMoney Group, which holds $1.4 billion worth of precious metals for customers, is setting up a new business specializing in “cold” storage of Bitcoin, an increasingly popular digital currency. Netagio will encrypt Bitcoins and store them on offline storage devices in secure vaults.

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