Spot gold and silver reached new all-time highs today, with gold trading around $4,600/oz and silver near $92/oz.
The move follows fresh inflation data showing U.S. November PPI rising to 3%, the highest level since July and above the 2.7% consensus forecast.
Producer prices measure inflation at the wholesale level, and sustained increases can signal ongoing cost pressures working their way through the economy.
Market data shared for informational purposes only. Past performance does not guarantee future results. This is not investment advice or a recommendation.
When Bitcoin is denominated in Iranian rials (IRR), large price increases primarily reflect significant currency devaluation rather than changes in Bitcoin’s underlying supply.
This highlights how outcomes can differ depending on the unit of account. In periods of currency instability, the measuring currency itself may be the primary source of volatility.
Past performance does not guarantee future results. This content is not investment advice or a recommendation.

Sometimes it’s not the asset that’s failing, but the currency used to measure it.

One way to evaluate Strategy ($MSTR) is by looking at shares per bitcoin.
Shares per Bitcoin is calculated by dividing diluted shares outstanding by total Bitcoin held.
It is the inverse of “Bitcoin per share” and represents how many shares are backed by one Bitcoin on the company’s balance sheet.
Over time, this metric has declined, meaning:
- Bitcoin holdings have grown faster than share dilution
- Each Bitcoin now corresponds to fewer shares outstanding
- Existing shareholders have gained exposure to a larger Bitcoin balance per share, on a fully diluted basis
This metric does not measure stock price, returns, or future performance.
It simply reflects balance-sheet structure and capital allocation efficiency over time.
For investors analyzing $MSTR, shares-per-Bitcoin can be a useful supplemental lens when assessing dilution versus Bitcoin accumulation.
For informational purposes only. Not investment advice.

The Federal Reserve cuts rates for the second time in 2025, down 25bps to 3.75%-4.00%.
Silver doubling in 6 weeks is not a sign of a healthy dollar.

For the first time since 1996, foreign central banks now hold more gold than U.S. Treasuries in their reserves.

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CENTRAL BANKS MAY HOLD BITCOIN BY 2030: DEUTSCHE BANK
Deutsche Bank economists say Bitcoin could join gold on central bank balance sheets by 2030 as its role as a reserve asset strengthens. They cite growing legitimacy, deeper liquidity, and clearer regulation. Although Bitcoin’s volatility remains a concern, it has fallen to record lows. With its scarce supply and independence from governments, Bitcoin could offer diversification and act as a hedge against inflation and geopolitical risks. U.S.-led adoption could help it move beyond a speculative asset.
The U.S. Dollar just made a new all-time low against Bitcoin.

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