We at FintekNews are so pleased that others around the globe have picked up on the case we made many months ago arguing that bitcoin IS the new gold. Indeed, we call for being long bitcoin and short gold. Keep up the supportive stories and posts. Love it.
Yes, more confirmation that bitcoin can be an alternative to gold for a host of reasons. This author picks up on the theme that is beginning to be accepted globally that bitcoin has become the “go to” alternative to the traditional gold investment. Super read. (Bill Taylor/CEO
“Whenever I get a spidey sense that there is something wrong in a particular market, alarm bells go off for me. The more I look into the Gold market, the louder the bells are sounding. As a follow up to my previous post on Bitcoin as a Commodity, Store of Value or Digital Currency — I felt it was now appropriate to compare Digital Gold to Physical Gold.
I’ve often argued that Bitcoin was more of a commodity like platinum, but if it’s ever going to become a store of value then gold becomes the analog comparison, for sure.
As a disclaimer, I currently hold no positions in gold (long or short), nor do I intend to for the foreseeable future. I was shorting gold last year briefly, but I no longer have a position — so these are my unbiased thoughts on gold. This is not investment advice. Draw your own conclusions — there are merely observations as to how I think things may play out.
I’m obviously pro bitcoin, but I don’t believe that that necessarily means that I should be pro gold too, which happens to be the case most of the time with people who are holding Bitcoins. In fact, Bitcoin is being seen more and more as an uncorrelated asset class….
I tweeted out earlier this week that I believe gold will dip or even end the year below $1,000 (which implies that I also believe the price of 1 Bitcoin will exceed the price of an ounce of Gold this year, given that I’ve forecasted Bitcoin reaching $2-$3k this year).”