Cryptocurrencies

“Stablecoins and Gold Bars”, this Bitcoin Whale (BTC) radically changes its mind – Cryptocurrencies

The COVID-19, it still put a sacred mess in our daily lives and on the financial markets. It would apparently take several years to put everything in order on the playing field of traders and investors. It took such chaos to bring this Bitcoin Whale (BTC) back into the tweets game.


He’s back, but is this good news?

Joe the Whale is back after a few months of absence and, of course, this is not to stroke the cryptosphere in the direction of the hair on Twitter.

Joe once again expressed his opinions, how to say to remain politically correct, which go somewhat against the rhetoric used by cryptophiles.

Joe think so Bitcoin and cryptocurrencies will not be spared if a liquidity crisis hits all financial markets.

More specifically, he explains that the engine of the financial markets is made up of derivatives: the total capitalization of the S&P 500 is around 30 trillion dollars while the value of its derivative market could reach quadrillion.

One of the leaders in the precious metals market, Goldmoney, also published a report in April 2020, raising the possibility of a similar crisis for gold, since there are simply not enough precious metals in circulation to guarantee derivative contracts.

Was Schiff right?

Joe believes that the only way to mitigate risk on a portfolio is to maintain physical gold bars and stablecoins, especially the Tether ((USDT).

In addition to this possibility of crisis in the derivative markets, Joe believes that the global economy is in the midst of a systemic shock that is likely to continue for many years.

It is based on a research report fromUC Davis explaining that pandemics are usually followed by periods when investment opportunities are limited.

Finally, Joe states that it is impossible to quantify the exact demand in Bitcoins and therefore predict its price, given the exceptional circumstances in which the market finds itself.

Pub

No word on Bitcoin (BTC), sniff! Is digital gold ultimately the gold of madmen 2.0? Everyone is big enough to decide what to do with their money. Afterwards, keeping physical gold bars at home is much more problematic than keeping digital gold … except when you have an option that allows you to keep pounds of gold in your wallet!

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