Gold may finally be prepped to break past its $2000/oz resistance and shatter its reputation among crypto bros of being a “Boomer Rock” in 2023, according to macro strategist Mike McGlone of Bloomberg Intelligence. The analyst believes that as the macroeconomic environment gets worse, investors are once again retreating to gold as a safe haven...Read More
Robert Kiyosaki – an American businessman, investor, and motivational speaker better known as the author of the bestseller “Rich Dad, Poor Dad” – thinks the current crisis in the banking sector will intensify. As such, he advised investors to focus on bitcoin, gold, and silver, arguing those assets could save them amid the potential turbulence....Read More
Robert Kiyosaki – the author of the bestseller “Rich Dad, Poor Dad” – thinks bitcoin will surge to $500,000 by 2025 due to an incoming market crash and a consecutive distrust in the US dollar. He has previously warned people to avoid traditional fiat currencies during uncertain times and focus on BTC or gold. Kiyosaki’s...Read More
One of the biggest critics of the cryptocurrency industry – Peter Schiff – expected bitcoin’s spike at the start of the year to cease shortly after it began and advised investors to sell their holdings when the asset was trading at around $18,000. The uptrend, though, continued, and BTC currently stands at $22,800 – a...Read More
The Russian government and the Central Bank of Iran are reportedly mulling a partnership to create a new stablecoin that can facilitate cross-border settlements. The token will be pegged to the valuation of gold. The Mutual Operation According to a report by the Russian media outlet Vedomosti, the local authorities could collaborate with Iran’s central bank...Read More
Eric Robertsen – Global Head of Research at Standard Chartered – thinks bitcoin could tumble to $5,000 next year as more cryptocurrency firms might experience liquidity issues. He believes 2023 could be prosperous for gold, envisioning the yellow metal’s price to surge to $2,250 per ounce. Next Year’s Potential Trends As reported by CNBC, Robertson...Read More
Michael Burry, the fund manager and investor who became popular from the “The Big Short” movie, believes gold will shine as investors seek safety from crypto risks due to the catastrophic collapse of Sam Bankman-Fried’s FTX. Burry is notoriously famous for shorting the U.S. housing market and profiting from the 2008 financial crisis. He also...Read More
The correlation between Bitcoin and stocks may be decoupling. And the original cryptocurrency might be working as advertised as an inflation hedge. With inflation soaring, BTC is tracking more like spot gold than US stocks. At the 30-day view Sunday, the bitcoin price was down 3.11% for the period at UTC 17:30. Stocks, on the...Read More
The author of the best-seller believes the US Federal Reserve will continue to raise interest rates, which will ultimately push the prices of BTC, gold, and silver down even more. However, this presents a good buying opportunity that could make investors smile in the future. Buy BTC Now, Says Kiyosaki Robert Kiyosaki used to be...Read More
Edward Dowd – former Managing Director at BlackRock – thinks that bitcoin will be a much more stable asset once the bear market is over. He described it as “the Amazon of the crypto era,” predicting it will hold a spot in everyone’s portfolio in the future. The Crypto Winter Will Not Defeat Bitcoin The...Read More
Amid international crises and a shaky crypto market, debates rage on about what role Bitcoin actually serves as an investment. Is it digital gold, or just another risk asset? In a recent tweet, Ki Young Ju – CEO of crypto market analytics firm CryptoQuant – weighed in on the matter. He believes that as long...Read More
The American businessman and author – Robert Kiyosaki – is not concerned about the recent price drop in the cryptocurrency market. He described bitcoin’s plunge as “great news” and vowed to increase his exposure to the asset should its USD value dip to $20,000. ‘Profits Are Made When You Buy’ The 74-year-old Kiyosaki, best known...Read More
The Switzerland-based cryptocurrency banking platform, SEBA Bank, has announced the launch of its new digital token backed by physical gold. SEBA Launches Regulated Gold Token In an official announcement on Wednesday, the bank noted that holders of the gold tokens can claim digital ownership of the physical gold stored in Swiss vaults. SEBA disclosed that...Read More
Selling gold for Bitcoin (BTC) appears to be the new strategy among some investors. Jefferies’ Christopher Wood is no exception. He is now trimming his allocation to the precious metal to expand his exposure to the world’s largest cryptocurrency. Wood, who happens to be the global head of the investment banking firm, also believes traditional...Read More
Institutions have resumed their appetite for bitcoin instead of gold, claimed strategists from the giant Wall Street bank JPMorgan Chase & Co. Consequently, they attributed the recent price surge to new multi-month highs to substantial purchases coming from large investors. Guess Who’s Back? The demand for bitcoin from institutions is a relatively new concept in...Read More
Robert Kiyosaki – founder of Rich Global LLC and Rich Dad Company – recently told his followers to invest in Ethereum before “the biggest crash in history.” Thus, the author of the best-selling book Rich Dad Poor Dad added ETH to BTC, gold, and silver as his most-preferrable investment instruments. Kiyosaki’s Plea: Invest in Crypto...Read More
The US Securities and Exchange Commission could greenlight a Bitcoin futures ETF as early as October this year, said Bloomberg’s Senior Commodity Strategist – Mike McGlone. He also doubled down on his $100,000 price prediction for BTC by the end of the year, adding that the cryptocurrency is on its way to replace gold, similarly...Read More
If the primary cryptocurrency’s mainstream adoption continues and the asset succeeds, regulators and governments will kill its progress, said Ray Dalio. At the same time, he believes most bigger countries, like China and India, have already started trying to do so. Speaking to CNBC on September 15th, the founder of Bridgewater admitted once again that...Read More
Palantir says it’s preparing for a black swan event with its massive gold purchase this month. Bloomberg reports the company also accepts bitcoin and gold as payment, but no one has paid in either. The Peter Thiel cloud computing company is also interested in accumulating bitcoin, Per a recently report: “The company spent $50.7 million...Read More
The financial specialist and professor at the New York University – Aswath Damodaran – criticized bitcoin in a recent speech. In his opinion, the primary digital asset “failed miserably” and did not prove itself as a good currency. Gold and BTC Are Not The Same The prominent Indian professor – Aswath Damodaran – shared his...Read More
The residents of India, known to be a gold-loving nation, increased their digital assets investments from $200 million last year to $40 billion this year. The exponential growth sounds impressive having in mind the hostile crypto restrictions, which the central bank maintains. Indians Admire Gold but Love Crypto The blockchain analysis company Chainalysis reported that...Read More
Michael Novogratz – the CEO of Galaxy Digital – shared another positive forecast for the future of the primary digital asset. Despite the ongoing crypto crash, he still looks at bitcoin as the better version of gold. ”I’m Still a Big Buyer of Bitcoin” The billionaire founder and head of Galaxy Digital – Mike Novogratz...Read More
SkyBridge Capital, the hedge fund founded by Anthony Scaramucci with over $7 billion in AUM, has doubled down on its support of Bitcoin. The organization’s Co-Chief Investment Officer, Troy Gayeski, said they believe in gold’s future but are more keen to invest in what many consider its digital alternative. Gold is Good, Bitcoin is Better...Read More
Analysts of the banking giant JP Morgan opined that institutional investors might withdraw from Bitcoin and turn their sight back to gold as the price of the primary cryptocurrency collapsed. Back to Gold The turbulent times for cryptocurrencies caused some analysts to doubt bitcoin’s merit as a store of value. According to JP Morgan experts,...Read More
While urging investors to treat bitcoin and other cryptocurrencies with caution, Deutsche Bank’s CIO, Christian Nolting, said the industry is “here to stay.” However, the executive sees the impending launch of CBDCs as a major threat to bitcoin in terms of serving as a currency. Instead, he outlined the asset’s similarities to gold and its...Read More
Choosing stock of gold mining companies instead of shares of firms investing in bitcoin has caused an underperformance for BNY Mellon’s tech-focused funds. The giant US bank outlined MicroStrategy – the company owning over 90,000 bitcoins – as the biggest missed opportunity. BNY Mellon’s Funds Performance In recent filings with the US Securities and Exchange...Read More
A year after the release of XAUt – a commodity-backed token pegged to gold – Bitfinex has announced the launch of a perpetual contract for the trading pair Tether Gold/Bitcoin. The new product will be settled in BTC and will offer up to 100x leverage for users. XAUt/Bitcoin Perpetual Contract on Bitfinex Launched in 2012,...Read More
A few months after launching Bitcoin custodial services in the US, the nation’s oldest bank, BNY Mellon, has doubled-down on its interest and involvement with the first-ever cryptocurrency. It has published a report attempting to determine bitcoin’s value by comparing BTC with gold and referring to the popular stock-to-flow model. BNY Mellow Evaluates BTC It...Read More
Popular gold advocate Jeffrey Gundlach, CEO of DoubleLine Capital, has thrown his weight behind Bitcoin (BTC), stating that the crypto asset is a better investment than the precious yellow metal. Gundlach tweeted earlier today that despite being a strong gold bull and a long-term U.S. dollar bear, he has chosen to be neutral on both...Read More
Jim Bullard, President of the St. Louis Federal Reserve, has dismissed the value proposition of Bitcoin (BTC) based on some of the oft-quoted advantages claimed by BTC proponents. Speaking to CNBC on Tuesday, Bullard remarked that the Federal Reserve viewed Bitcoin as more of a rival to gold than an actual currency. According to Bullard,...Read More
