Are Investors Ditching Gold To Buy Bitcoin?
Gold recently hit a record high. So did Bitcoin.
Which to own? Decisions, decisions.
One's time-tested as a store of value, and also as an object of affection over which countless men have died, and around which empires were built and lost. In modernity it's functional as a doorstop and also a paperweight if you're into garish office accessorizing.
The other has a much shorter history: A decade versus time immemorial. It proved to be a terrible inflation hedge in real time, but since inceptio
I was chatting with a man in the Bahamas last winter, and we both agreed that Gold really holds very little investment value. He did mention that he keeps a couple kilos in the house in case he gets a home invasion, and that might be enough to set them on their way. Just another use of Gold as an insurance policy.
I honestly believe that the inflation of the 70s and 80s was magnified by the screaming out loud that we’re not using real money and that we should use Gold. They had all the perfect charts to show they were right.
I believe it did magnify inflationary expectations during those times.
Could it be that Russia’s getting the upper hand in Ukraine because of Putin’s buddies in the Republican party having stalled support may be upping the threat of a wider conflict in Europe (ergo the world)??