Hello All
Gold/Silver is considered a hedge for turbulent times. Currently the market cap of Gold is something like 7 trillion.
http://onlygold.com/Info/All-The-Gold-In-The-World.asp
Even though gold has been around for over 5000 yrs I don't see where it is consistently part of most portfolios. There is something to be said about holding a piece of gold coin in your hand. If you are part of an inflationary economy then the metal really shines. If you were lucky enough to buy it when it was trading at 350 an ounce then you are sitting pretty. I remember I wanted to buy it about a decade or so ago but my ATM wouldn't dispense 350$ in one shot. I missed out lol
If you want to amplify your returns you go to gold miners. For me that's been a consistent loser. About 1 on 2000 mines actually go to production. Lets just say the odds have been stacked against me.
Enter Bitcoin-Gold 2.0
Bitcoin along with other cryptocurrencies/alt coins have a market cap of 100 billion. Since the supply is fixed and only 21 million bitcoins are to mined, I see this as my shot to get in....aka Gold 2.0. I see this as an alternative asset-only better. Big boys are not shorting Bitcoin yet. They maybe not buying it but not shorting it. Bitcoin is also not easy to buy. Gold on the other hand has mutiple paper ETFs and very easy to short. Infact the ETFs straight out tell you in their foot notes-"we maynot hold the gold the ETF represents" lol.
Have we missed the boat? I don't think so. Japan, Korea, China, Venezuela and hopefully soon India will be on board. Blockchain technology is going to change the world for the better.
So here's my chance and yours to buy Gold AGAIN- only cheaper and better!
Please share. Thanks.