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Michigander BallAndChained Fri, 07/27/2018 - 07:46 Permalink

Why a Group of Gold Bugs Couldn’t Stop Talking About Bitcoin

By Nick Rokke | July 27, 2018

“It just makes sense,” I heard someone say…

I was in a room packed full of gold bugs. It was the first day of the fifth annual Sprott Natural Resource Symposium in Vancouver—a must-attend event for natural resource investors. It’s where companies, financiers, and investors come together to share projects and ideas.

So I didn’t blink at the chance to fly across North America to find valuable insights on the commodities market. (As regular readers know, commodities are on the verge of a new supercycle. With the economy taking off, demand for resources is going up… and it’s only a matter of time until prices follow.)

I didn’t think much of the comment at first, but it took a surprising turn… “It just makes sense… Owning bitcoin is a lot like owning gold.”

You see, the conversation at a natural resource conference had shifted from gold… to cryptocurrencies.

A Surprising Guest

But what surprised me even more was seeing our very own Teeka Tiwari on the list of speakers. I had no idea he was going to be there. And he wasn’t just any speaker—he was the keynote presentation on the first day of the conference.

As you can probably guess, he didn’t come to talk about commodities. Here’s T in front of a captivated audience…

I wasn’t sure what kind of reception he would get… As you can see in the picture above, there’s a lot of grey hair. They’re all traditionalists who like investing in gold—not the latest trends. I didn’t expect much excitement about cryptos.

But Teeka came out firing with a couple crypto picks… and then shocked the audience with his bitcoin price prediction. As regular readers know, Teeka thinks bitcoin will hit $65,000 a coin within a year.

That caught everyone’s attention.

Not So Different?

When I asked some of these guys why they were excited, I got a lot of similar responses…

“I can put some of my money in this new currency that is outside of government control. They can’t inflate the value down like they can with the dollar.”

It’s the same reason why most of these guys invest in gold: It’s outside of government control. The government can’t just turn on the printing presses and print gold.

Gold and crypto investors have lost faith in government-backed currency… Why would you want to leave your savings in the hands of politicians, or with the unelected officials at the Federal Reserve?

People here are looking for sound money. Fiat currency is no longer sound… but gold and cryptos can be.

The second reason many of these guys said they had bitcoin was, “It’s the best way to diversify my portfolio.”

Some of the attendees told me they were Palm Beach Research Group subscribers. They’ve been paying attention. Greg Wilson, Teeka’s lead analyst, wrote about the diversifying benefits of bitcoin a few months ago.

According to a recent study by crypto asset manager Bitwise, allocating just 1% of your portfolio to bitcoin over the past four years would have increased your performance… and decreased the overall volatility of your portfolio.

So by adding this “volatile” asset, these guys would have actually decreased the price swings of their portfolio. That’s because bitcoin is uncorrelated to the stock market—when stocks fall, bitcoin tends to rise.

That’s also why gold investors hold gold. Countless studies have shown that if you just hold a small amount of gold, you’ll have better risk-adjusted returns.

It’s why we call both gold and bitcoin “chaos hedges.” When the stock market tumbles, there’s a good chance the money leaving stocks will go into gold and bitcoin.

This is why gold bugs love crypto… It’s almost the same thing as gold.

The only real difference is that you can hold a gold coin. You can’t hold a bitcoin—it’s only digital.

Other than that, bitcoin serves the same purpose for your portfolio as gold. It protects you from inflation, it gets your assets out of the depreciating dollar, it has a fixed supply that’s free from government interference, and it diversifies your portfolio.

But remember: if you do invest in this emerging asset class, we always recommend you take a small position size. Don’t bet more than you can afford to lose—$200–$400 is enough for a small investor to make life-changing gains.

Bitcoin and all cryptocurrencies are volatile. So, small position sizes will allow you to keep a cool head during extreme periods of volatility in the crypto market.

That said, bitcoin and gold complement each other. And that’s why I hold a little of each in my portfolio. I hope you do the same.

In reply to by BallAndChained

nmewn Lumberjack Fri, 07/27/2018 - 06:03 Permalink

Amazing isn't it? How a false thing can become so embedded in the mind that it is remembered as real. 

As the ponzi world of "high finance" broke apart, swirling around the toilet bowl, before it disappeared down the tube, a Face of Ponzi had to be fixated in the public consciousness. 

That face was Bernie.

Bear Stearns was so stuffed to the rafters with Bernie Madoffs they were literally falling out of the windows...lol. AIG & Fannie Mae were like one of those cavernous/warehouse looking laboratories you see in a sci-fi movie, where Bernie Madoffs are created enmass inside test tubes on an industrial scale.

But they had to have a Face of Ponzi to affix the publics attention upon for this gigantic financial clusterfuck instead of where the publics attention actually belonged, so Jon Corzine gets to walk away with his billions while Bernie...goes to jail. 

It is just like one of Banzai's pictures above, traffic cones picked up & placed on the sidewalk, with a garishly painted, over-the-top Porsche parked in the clearly delineated No Parking Zone, some drivers are way moar equal than others ;-)

In reply to by Lumberjack

any_mouse nmewn Fri, 07/27/2018 - 11:49 Permalink

Bernie fucked Jews who wanted high returns without risk.

Corzine fucked independent Farmers and Ranchers who were hedging risks.

Unknown as to Madoff's political cronies.

Obama, Clinton, et al, were Corzine's political cronies.

Madoff was never a member of Congress or political office holder.

Corzine still is "The Honorable Jon Corzine".

In reply to by nmewn

Drop-Hammer Thu, 07/26/2018 - 20:12 Permalink

For one, the guy was some jew who was known only to other wealthy jew 'titans'.  So, why would anyone give a crap about another wealthy jew?  For another, Madoff ripped off his fellow jews (the ultimate jew offense/betrayal), and those cunt jew victims had the guy tried and thrown in prison in no time flat (it helped that the DA/prosecutors/judge were all jews).  Madoff should have stuck to ripping-off us goyim, but the jew skeezes had all of our money, so the goyim had no money to rip off.