Bitcoin Holds Steady As Gold Shed Trillions In Value — What This Means
In one of the most striking moments of this cycle, gold has lost trillions in market capitalization, a drawdown larger than the entire value of Bitcoin itself. The metal that once symbolized stability is now showing cracks, while BTC, the asset branded as volatile, has remained remarkably resilient. What It Means For Bitcoin Next Market Cycle For decades, gold has been hailed as the ultimate safe-haven, and it has been rock-solid. However, a seasoned financial analyst, Tom Tucker, has revealed on X that Gold, the world’s oldest store of value, has lost $2.5 trillion in market value, which....
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Precious metals markets continue to flounder this week as gold’s value per troy ounce has slid by 6.53% in value against the U.S. dollar during the last month, while silver has shed 2.34% in 30 days. Amid the raging inflation worldwide and the hawkish central banks, gold and silver prices have struggled in 2022 and investors expected quite the opposite to happen.
Precious Metals Continue to Tank in Value
The nominal U.S. dollar value per troy ounce of gold (Au) and silver (Ag) has dropped between 0.18% (Au) and 0.27% (Ag) during the last 24 hours. Over the last 30 days,....
Dan Tapiero told Anthony Pompliano that $15 trillion in institutional capital could flow into Bitcoin, pushing prices as high as $500,000. Gold Bullion International co-founder Dan Tapiero believes that it’s only a matter of time before Bitcoin’s price surges into the six-figure threshold. Speaking to Anthony Pompliano on the Pomp Podcast, Tapiero asserted that in terms of price appreciation Bitcoin is the king, even though he believes investors should own both gold and Bitcoin:“In the next five years, I can see gold at $4,000, so that’s double. But if gold is at $4,000, Bitcoin is....
A research report by Celent has looked at whether or not gold could be brought back as a means of exchange through bitcoin’s underlying technology, the blockchain. The report, Micro Gold: Assessing the Use Case of DLT and Physical Gold, determined that the blockchain could transform the way gold is utilized as a form of currency, delivering the benefits associated with bitcoin. According to senior analyst in Celent’s securities and investment practice, John Dwyer, a currency needs to have three qualities, reports EuroMoney. These are a store of value, a medium of exchange, and a unit of....