Seems crazy to suggest…but are we seeing a rotation out of Bitcoin into precious metals? When is the last time silver or platinum were EVER up 10% in a day? This is just nuts
Discussion
Just war
I’ve had the same thought. But we’ve had war nearly constantly the past 30 years. Why is this time different?
China
This would imply China and BRICS nations are the likely buyers. You’d think there would be a corresponding move. Like US treasury spreads ripping. But the only thing down right now is Bitcoin.
lol i was randomly replying.
To be real; China and India and Russia have all stopped their major buying. It's 'done' already. What's happened this week is the talk of $1000 checks, veterans checks, Trump accounts etc. all hinting at stimulus, while inflation and real rates remain substantial.
Italy has also requested it's gold reserves back, as the opposition most likely seeks to use that to back some of it's debt instruments.
Silver is an industrious precious metal, more so than Gold, so the price actions are mostly speculation or supply. Same for platinum etc. Precious metals has always been a store of value though, so many people are probably taking cash off the market and saving it in instruments like Gold, Silver etc.
BTC? I don't think normal people see it as a hedge or savings vehicle, more as a speculative hedge against 'the dollar system' - hence remaining relatively flat