| From: bull_dozer | 10/4/2021 5:47:38 PM | | | | | | 'Bitcoin has effectively replaced gold' - Chamath Palihapitiya
Social Capital founder Chamath Palihapitiya sees gold giving way to bitcoin.
Palihapitiya was interviewed by CNBC’s Scott Wapner at the Delivering Alpha conference on Wednesday.
Palihapitiya referenced gold when he was asked if he wanted to make a price prediction for bitcoin. CNBC said that Palihapitiya made predictions as high as $200,000 a bitcoin earlier in the year. Palihapitiya deferred on giving a number during the interview.
"It's very hard for me to give a price prediction, but I can pretty confidently say that bitcoin has effectively replaced gold," said Chamath.
"I can pretty confidently say that #bitcoin has effectively replaced gold," says @Chamath.
"And it will continue to do so... that market cap is just going to grow." #DeliveringAlpha pic.twitter.com/KFL4TywfD3
— Delivering Alpha (@DeliveringAlpha) September 29, 2021
kitco.com |
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| To: bull_dozer who wrote (60411) | 10/11/2021 4:39:53 PM | | From: benwood | | | | Gold is far more easily manipulated than cryptocurrency, furthering the belief that the system is permanently rigged to the newbies out there, who will be the next generation of active investors. And savers.
Cryptos are far too unstable to be a worthy vehicle of saving still, but hopefully they'll come around. |
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| To: bull_dozer who wrote (60416) | 11/9/2021 12:38:24 PM | | From: bull_dozer | | | | The Fed Reminds Me of a Speculator Who Is on the Wrong Side of the Market
Jim Grant, editor of Grant's Interest Rate Observer, warns of the rampant speculation in the stock market. He worries that the central banks are underestimating the threat of persistently high inflation and explains why gold has a bright future.
It’s also no secret that you are a passionate fan of gold. What’s your take on the precious metal at the current time?
I love it with the same intensity that I am frustrated by it, which is considerable. That is a rather poetic expression of my opinion. So let me get you a more down to earth answer: Gold is unusual in that it is kind of outside this speculative whirlwind. Gold mining stocks are perhaps at all-time cheap levels with respect to the S&P 500. Whether it’s yield you’re talking about, or free cash flow, or price to earnings, or profit margins: Gold mining shares are perhaps as cheap as they have ever been against the broad market. So gold is a little bit of an island of indifference in a boiling sea of gambling and speculation.
When will gold shine again?
Gold is not what cryptos are, it’s not what NFTs are, it’s not what Tesla is. It is outside of a raging speculation and I think it will come into its own raging speculation when this great speculative episode, correctly called the Everything Bubble, bursts. But it’s not going to attract much interest as long as stocks are making daily new highs. So count me still bullish, but also very frustrated.
themarket.ch |
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