In a viral YouTube video, Gary Cardone showed the moments when he got rid of 23,700 troy ounces of silver, purchased more than a decade ago. According to him, despite having a decent appreciation, he imagined he would make more profit.
Gary Cardone, brother of Grant Cardone. Photo: Facebook
Gary Cardone, the brother of famous influencer Grant Cardone, exchanged around 670 kilograms of silver for bitcoin. To make the situation clear to his followers, he published a video on his YouTube channel, which has more than 20 thousand followers.
As he had a large quantity of silver, he needed an operation that even included police officers to ensure the security of his delivery of valuables. He stated that trading precious metals normally involves high risk.
Furthermore, even though he bought silver 12 years ago, the millionaire said that while the return was better than simply having cash, he did not make a huge profit.
Millionaire Gary Cardone reveals operation to exchange silver for bitcoin
In a video that went viral on YouTube, Gary Cardone showed the moments when he got rid of 23,700 troy ounces of silver, purchased more than a decade ago. According to him, despite having a decent appreciation, he imagined he would have made more profit.
Still, it showed that it is not an easy task to get rid of precious metals, since he needed to correctly separate his silver. In addition, he had to take care of the metal's purity certificates, as well as make it clear that he was not cheating with fake silver bars.
Cardone also stated that if he were selling bitcoin, he would have just pressed a button and it would be over. However, with silver, the buyer would have to load the entire amount into a van, evaluate it piece by piece, and then wait for a call confirming the sale.
Grant Cardone's brother also stated that if he needed to leave the US with his silver, to Brazil, for example, he would encounter difficulties.
“In this video, we’re moving 23,700 ounces of silver out of storage, but that’s just the beginning! Join us as we talk about the logistics of trading precious metals like silver, including the challenges of physical movement, security concerns, and market timing. We also discuss how this process compares to trading Bitcoin – highlighting the convenience of crypto transactions and the security advantages of blockchain. With silver prices on the rise and Bitcoin approaching a potential breakout, we explore the evolving dynamics between these two asset classes,” he said.
Silver or bitcoin?
While Gary Cardone has swapped his silver for bitcoin, not everyone believes it is a necessary move to be exposed to just one asset.
For Robert Kiyosaki, for example, what matters is that when an eventual collapse of the Dollar comes, people will need to have gold, silver and bitcoin.
Still, Cardone made a bold bet by realizing 12 years of silver profits to get more bitcoin for his holdings.
