Name: The Real Reason Bitcoin Is Falling Behind Gold
Uploaded: 2026-01-16T14:09:42+00:00
Duration: 1558 s

Speakers

Vinnie Lingham — Co-founder and Chairman of Praxos Capital Management

Laura Shin — Host, Unchained

Summary

Vinny Lingham, co-founder and president of Xash, explains why he believes gold is becoming the world's neutral reserve asset while Bitcoin has failed to live up to its digital-gold promise. He discusses his planned gold-backed stablecoin, a balanced precious-metals allocation, overheated silver, and why he prefers private equity and cash-flowing businesses over large crypto allocations. He also rejects the privacy-coin narrative and flags quantum computing as a growing Bitcoin risk.

Gold's rally is driven by fiscal deficits, reserve diversification, and central-bank buying.
Vinny expects gold to continue higher and sees $10,000 per ounce in two years.
He is very light on Bitcoin, citing insufficient liquidity, volatility, and stalled growth.
He is launching Xash, a gold-backed stablecoin with a rewards mechanism.
He recommends a precious-metals portfolio of 85% gold, 10% silver, and small platinum/palladium.
He views silver as overheated but still useful in small size.
He prefers private company shares and cash-flowing businesses over public stocks and large crypto bets.
He is not buying privacy coins and sees quantum risk to Bitcoin as underappreciated.

Ideas

Vinnie Lingham Co-founder and Chairman of Praxos Capital Management 2:50

Gold trends toward $10,000 in two years.

The world is losing faith in US fiscal discipline amid large federal deficits and foreign selling of US assets, so central banks are shifting reserves toward gold. Gold is now the top central-bank reserve asset, is scarce, highly liquid at around $33T, and is the neutral reserve asset. Vinny expects the trend to continue and sees $10,000 gold in two years.

Vinnie Lingham Co-founder and Chairman of Praxos Capital Management 4:23

Bitcoin underperforms gold; remain very underweight.

Bitcoin has not reached the liquidity needed to be a global reserve asset; its roughly $2T market cap is too small and volatile, central banks cannot buy it in crises, and it has failed to live up to the digital-gold promise. Growth has stalled and it has underperformed gold over the past four to five years. Vinny is very light on Bitcoin and has moved mostly out of crypto.

Vinnie Lingham Co-founder and Chairman of Praxos Capital Management 8:09

Invest in restaurants for cash flow.

Vinny is investing in restaurants and steakhouses because he wants cash flow and yield from his portfolio, contrasting that with crypto, which he views as more speculative and dangerous in large size.

Vinnie Lingham Co-founder and Chairman of Praxos Capital Management 18:24

Silver overheated; use small portfolio allocation.

Silver is overheated and highly volatile, but it can still go higher, and a small allocation in a precious-metals portfolio can add beta. Vinny has traded silver calls and recommends only a limited position rather than an all-in bet because a big crash is possible.

Vinnie Lingham Co-founder and Chairman of Praxos Capital Management 18:50

Hold 85% gold, 10% silver basket.

For a balanced precious-metals portfolio, Vinny recommends roughly 85% gold, 10% silver, 2.5% platinum, and 2.5% palladium and then leaving it. Gold is the stabilizer; the other metals add extra beta, but silver is volatile so it should not dominate.

Vinnie Lingham Co-founder and Chairman of Praxos Capital Management 21:03

Prefer private equity over public stocks.

Vinny prefers private company shares over public stocks because the illiquidity prevents the temptation to sell and lets him hold for years until an IPO or exit. He says he has virtually no public stocks and most of his equity exposure is private companies.

Vinnie Lingham Co-founder and Chairman of Praxos Capital Management 22:30

Avoid privacy coins as governments crack down.

Vinny is not buying the privacy-coin narrative. Governments, including the UAE and potentially the US, are already pushing back and banning privacy coins, and adding anonymity layers to Bitcoin risks drawing bans. He prefers Bitcoin remain pseudonymous rather than fully anonymous.

The Real Reason Bitcoin Is Falling Behind Gold

Summary

Ideas

Up Next