I have no idea what the future holds for BTC and obviously never been a BTC supporter based on my posts, but there were debates here (and on the crypto thread) about how useless Gold/Silver were beyond jewelry and that BTC was going to $250K…$1M…but now we see Central Banks hoarding metals and they are deemed critical to the AI/chips/electrical buildout. BTC could disappear tomorrow and nobody would care other than those that lose billions plus the hit to the stock market based on havoc it would create. Before the BTC Bros rip me apart keep in mind I am a big fan of blockchain and I’m bullish on companies like FIGR that are tokenizing RWAs. But you don’t need BTC or any meme coins for blockchain tech to integrate into everyday society.
OT: Stock and Investment Thread
- Thread starter RU05
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To be fair, I view BTC and gold in the same category (with limited uses other than store of value). Silver has massive industrial uses and the need is growing.
The good news about Bitcoin is that it gets easier for hackers to bigly hack that “store of value” every day!
At least my “out there” gold hoarding MAGA eye doc is safe from North Koreans.
I’d just point out that views at times like these (gold way up, bitcoin down) are easy to make. They’re similar to the views when ftx crashed and people held funerals for crypto. A few years later bitcoin was up 6x and alts 20-50x.
I’m much less concerned with bitcoin being down than I am with gold being up. I don’t think it’s up for a good reason and that will have far greater implications.
Tom Lee said Bitcoin would be at $180k by tomorrow. That should earn him a 3-6 month ban from this thread
All the BRICS nations hoarding gold to try and remove dependency on the dollar...once the primary metal booms the rest follow suit--no diff than BTC and Alts
BTC folks can correct me if I’m wrong but no countries other than El Salvador and perhaps a few other flies on the pile of crap nations have proactively bought BTC. US, UK and China hold a bunch from seizures. Germany liquidated what they had. Russia and India have stockpiled gold. Even Tesla ended their publicity stunt a few years back selling almost all their holdings and companies like MSFT didn’t bite on the ridiculous BTC balance sheet proposals. Not to mention, as much as we may hate China they aren’t dummies- yet crypto/BTC are effectively illegal in the country. With all this said, wouldn’t shock me if BTC hits $100K again because there are enough important/influential people that own it including politicians that won’t let it die.
Definitely buy the gold dip.....and probably silver as well. I wasn't in silver directly (just SILJ) so today was a nice opportunity to start a small position.
If you look at all the crypto data, most retail investors didn't come back this cycle. That's why BTC's $125k high was below expectations. Will they come back? Not sure. What would make them come back? Not sure.
Crypto conspiracy theorists/hype men say US will rug pull them by selling all of our gold and buying Bitcoin. I love the enthusiasm
Takes up too much room at West Point, Denver and Fort Knox?
Good gosh…irrational exuberance is fun to watch! Bitcoin could drop to 50K and still have a “market cap” of 1 trilly!
This market is bonkers thanks to algos and traders that have to liquidate positions because they are over their skis. I can’t ever remember owning so many stocks with such dramatic swings and it’s not like I’m holding a bunch of junk or spec stocks. I’m seeing red all over my portfolio.
my guess is silver correction lasts at least few weeks before another push up
Last week when Silver hit $96, I went to a coin shop and sold a 10 oz bar for $880. Two days ago when the price hit $120, I went back with another 10 oz bar, thinking I was going to get at least $1100 for it. Well the guy only offers me $900. I asked how can you give me $88 when it's $96 but $90 when it's $120. He said that his buyers weren't chasing the price and he wouldn't be able to provide the same margin. Well, his buyers sure were shrewd to take that approach.
Very possible. I caught SLV close to the low ($70.5'ish). I set a stop loss at $70 in case the trend holds for longer. If that happens, I will regroup and see how the market reacts.