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Billionaire Frank Giustra says Bitcoin can be traced and seized, challenging its 'digital gold' status.

Market News
31 May 2026, 11:56 WIB
Crypto news
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Bearish
Billionaire Frank Giustra says Bitcoin can be traced and seized, challenging its 'digital gold' status.

Frank Giustra, a Canadian billionaire and gold advocate, argued that Bitcoin cannot truly be considered 'digital gold' because its blockchain ledger allows governments to trace and seize crypto assets. His comments followed U.S. Treasury claims of nearly $1 billion in Iran-linked cryptocurrency seizures, highlighting active government enforcement. Giustra emphasized that despite self-custody and seed phrase memorization, users remain vulnerable to legal actions and tracing, unlike physical gold. This renews debate on Bitcoin's role as a safe-haven asset compared to gold, especially as governments hold significant seized Bitcoin reserves.

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