Schiff claims he would have “kept quiet” had he bought Bitcoin because he never believed in its fundamentals.
Gold News
Gold, a precious metal revered for centuries, holds an enduring appeal due to its rarity, beauty and intrinsic value. Throughout history, gold served as hard money, a term denoting currency backed by tangible assets, ensuring stability. Unlike fiat currencies, which derive value from government decree, gold’s value is intrinsic, making it a reliable medium of exchange and store of wealth.
Historically, various civilizations used gold coins for trade, establishing its universal acceptance. Gold-backed currencies provided economic stability, linking the value of money to a specific amount of gold. This system mitigated inflation risks, fostering trust in financial systems.
In contemporary finance, gold remains a reliable store of value, offering protection against economic uncertainties. Investors turn to gold during market downturns, reinforcing its status as a safe-haven asset. Additionally, the rise of cryptocurrencies led to Bitcoin (BTC) being dubbed “digital gold.” Bitcoin shares similarities with gold, such as scarcity and properties that make it a hard asset. Investors often correlate BTC with gold, highlighting its potential as a modern store of value.
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The new all-time highs marked the first time Bitcoin and gold hit new records simultaneously since the emergence of BTC.
5170Bitcoin surprised investors with a sharp sell-off today, but derivatives metrics are still neutral-to-bearish despite the 14% intraday correction.
10964BlackRock’s iShares Bitcoin Trust has amassed $10 billion in assets under management in just seven weeks.
11570Institutions will compete to capture as much of Bitcoin’s ever-decreasing supply as possible until the end of 2034, as 99% of Bitcoin will have been mined by then, Saylor explained.
21460MicroStrategy’s acquisition follows predictions that Bitcoin ETFs could surpass gold ETFs in assets under management during the next two years.
10412Bitcoin price might fail to top $70,000 before the April 2024 supply halving, but the longer-term projection looks positive.
26632Leading gold ETFs have seen outflows of $2.39 billion so far in 2024 as the price of spot gold declines.
14372Physically backed Bitcoin ETFs, like the Bitwise Bitcoin ETF, are safer than any other ETFs due to their unique accounting system, Core Scientific founder Darin Feinstein believes.
6692The ARK Invest CEO expects that trend to continue now that investors can trade Bitcoin in a more accessible way through spot Bitcoin ETFs.
13397Macroeconomic factors will pressure Bitcoin’s price in 2024 despite the bullish narratives, says Bloomberg Intelligence senior commodity strategist Mike McGlone.
3355A new children’s book aims to explain the concept of Bitcoin as the next evolution in the history of money.
1672Spot BTC ETFs made headlines as the media reported $2.8 billion in assets under management, but how significant is the figure?
12581Bitcoin’s futures premium indicates that the bullish momentum is no longer present, so is BTC price at risk of a trend reversal?
19364Bitcoin and gold recorded strong performances in 2023 amid geopolitical uncertainties and rising interest rates.
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