The reason I thought of this is because of a Bitcoin/gold related article I found today. And though I somewhat disagree with the speculative tone of the report, it is still worth sharing:
Ohhhh you thinks huh? Well I know for a fact many crypto hodlers, some of them close to being whales have diversified their crypto profits into gold as well. I also have reason to believe some countries who's central banks have stocked up on billions worth of gold have also dabbled into Bitcoin and I don't just mean Russia. If one party is accepting digital assets like Bitcoin for payment, then that means other parties have to hold thus asset in order to use it does it not?
So pray tell any more nonsense you want to share? "Spreading into the ETF space was massive for bitcoin," Brooks said. "Past halvings have gone unnoticed — but that hasn't happened this time, because bitcoin is so much more mainstream, and that should help keep up demand." Past halvings have gone unnoticed. I had to repeat that part for you to read again and fully realize what this a-hole just said to us. All the other Bitcoin halvings went unnoticed? By who, mole people living underground?
Alright, enough pointless verbal 💩 from a so called ''research director.'' Jeesh man, the level of this thing.🥴 I'm not saying that me or crypto hodlers are the ones driving up the price of gold or anything. That claim would be as ludicrous as the whole MSN market insider article. The point I'm writing this is the following: I also sold a portion of gold for Bitcoin in the previous run. Nothing massive or anything, just a few loose bars but here's the chart comparison of the two: Gold from 18K to almost 22K, Bitcoin from 50K to well over 70K. So a 22% increase of gold versus a 40% increase of Bitcoin. I'm now about to repurchase that same amount of gold and have some extra BTC left in my wallet.
So what have we learned? That contrary to the claim, both precious metals and crypto attract the same type of investor. Me. The end.
No seriously though, this shrugging off and downplaying Bitcoin is getting old. It has actually been old for over a decade now ever since that site that declared Bitcoin's end only to cease existing itself.
First they started with their "Bitcoin is dead" rhetoric. Then they moved to "Yeah Bitcoin defied the odds but still" tactic. Next they will claim 'their side' invented Bitcoin and all their reports vilifying it was just reverse psychology and all apart of an elaborate ploy to reel us in.😂