Tuesday , 24 April 2018


Bitcoin Gives Gold the Finger!

Those who love gold must feel horribly betrayed, particularly as they look at gold-v-bitcoinBitcoin. The same money put into cryptos instead of gold would have yielded millions, if not billions (given enough starting capital) in profits, whereas gold has just withered away like a maple leaf on an autumnal sidewalk. It’s no different for the miners, of course.

The original article by Tim Knight has been edited for length and clarity to provide a fast & easy read. For all the latest – and best – financial articles sign up (in the top right corner) to receive munKNEE.com’s free bi-weekly Market Intelligence Report newsletter (see sample here) or visit our Facebook page.

You could have put money into anything – anything at all – over the past six years and done better than gold [be it] real estate, stocks [even] kitty litter. Gold has been a total piece of garbage, and I’ve got a sneaking suspicion that gold bugs are finally up to “here” with the so-called precious metal and are jumping over to cryptos. Here’s this miserable piece of crap:

GOLD

slopechart_GLD

GDX

slopechart_GDX

The reason I think of these two (gold and bitcoin) together is because the zeitgeist is sort of the same:

  • anti-government
  • anti-central bank
  • safe haven
  • contrarian.

Gold has betrayed its zealous following, whereas Bitcoin has made its adherents incredibly rich.

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