Friday, January 8, 2021

Gold 2.0 - Bitcoin


Gold 2.0 - Bitcoin

The multi-trillion dollars printed to handle pandemic stimulus, the infrastructure Bill and the event of the storming of the capital all pressure the confidence of the US dollar. All these factors should have been pushing the price of gold higher. However, the gold price is down 2.88% at $1,858/oz at the time of writing of this blog post. It is because people are rushing into the Gold 2.0 : Bitcoin. Also as a hedge to US inflation, the equities market is also a good hedge too. Given that gold generates no interest and offers no growth momentum, gold can only be a "stable" asset.