Gold is a store of value as people buying #gold now will be able to sell it in the future to buyers who actually need to use gold as a metal. #Bitcoin’s value comes from the belief that it can be resold at a higher price in the future to speculators willing to make the same bet.
Tag: Speculators
Some have postulated that investors are selling gold and buying Bitcoin. Since they have nothing in common, I doubt that’s happening. But some speculators may be selling gold stocks and buying GBTC, with gold stocks falling as gold rises, and GBTC trading up to a 25% premium.
Some have postulated that investors are selling #gold and buying #Bitcoin. Since they have nothing in common, I doubt that’s happening. But some speculators may be selling gold stocks and buying GBTC, with gold stocks falling as gold rises, and GBTC trading up to a 25% premium.
This bull market is different because people already know about crypto, Celsius CEO says
His price predictions are a little lower than most speculators, however.
Negative Bitcoin headlines affect speculators, not HODLers says Morgan Creek CEO
Yusko claimed “Investors drive long term value, speculators drive current price.”