Post by
Rockit2 on Nov 08, 2022 3:41pm
Clouder ;
I don't think people understand that if just 5% of depositors of Bitcoin were to hold their hands up and give up and move into gold , WOW WOW there wouldn't be enough gold to satisfy them all !! I sincerely believe that a lot of these Bitcoin people are going to be moving into gold. Hell can you blame them ! Yes gold has lost maybe 15% over the last year but Bitcoin has gone from roughly $70,000 to $20,000 . I couldn't even imagine taking that kind of bath ! Could you !!!! Just one more thing , Bitcoin being the type of investment it is , gold is pretty much the same type of thing. A storage or place for wealth ! At least one would hope so !
Comment by
shmenkari on Nov 08, 2022 6:19pm
Gold the metal, not including gold stocks, is a ten trillion dollar market give or take. Bitcoin is about 500 Billion, 20 times smaller than gold. So if 5% of the bitcoin market moves into gold that is only 25 billion dollars. Not a small ammount of money but not enough to sky rocket gold. Now if they moved into silver that would be somthing. Silver would go to the moon with that kind of money.