Now I feel there historically has been quite a lot of crossover between Gold Bugs and Silver Collectors and crypto individuals, basically crypto is simply Gold 2.0, it is simpler to retailer and simpler to maneuver whereas sustaining most of the identical ideas and causes that Gold has lengthy been a retailer of worth and hedge towards inflation.
Many individuals in crypto really feel overwhelmed down, really feel like there isn’t any platforms and no person you possibly can belief, and if you cannot security commerce on exchanges, if you cannot have interaction with defi platforms and many others then what are you able to do? I feel many individuals predict at the least a yr of not an entire lot of motion in crypto, take note 2023 is probably going going to be a really unhealthy yr, issues I feel most would agree are fairly unhealthy proper now by way of inflation they usually’re not even calling what had been in inflation, so if that is the great occasions I hate to see what the unhealthy occasions are going to seem like.
Add to that we actually have not seen the layoffs hitting but, at the least not outdoors of tech, mortgages and actual property and people are coming which means extra individuals will dump.
It is also not good proper now to be sitting on money as that is assured to lose 7% to 9% per yr if no more. Most peopel proably aren’t going to belief sitting in a stablecoin both and who is aware of the place Bitcoin and different cryptos will probably be a yr from now.
I foresee lots of people in our neighborhood shifting over to gold and silver at the least quickly to trip out the subsequent 1-3 years.
*Edit it is humorous to me how a publish like this will get downvoted as a result of it is not rah rah crypto. This sort of cultishness is precisely what turns individuals off to crypto is individuals deal with it like a faith versus an funding. The numbers do not lie the quantity of silver and significantly gold being bought proper now’s at very excessive ranges, persons are turning to gold. There’s nothing that claims since you purchase or maintain some gold that you just hate crypto. its not an all or nothing factor individuals.
15 thoughts on “Many Crypto Peeps Will Grow to be Gold and Silver Bugs”
Lol, I’ll pass but you do you.
There’s an untold amount of gold out there.
Not me. I’m not gonna buy Gold and silver.
Bitcoin, Ethereum all the way.
The only way I am buying gold or silver is if it’s going to be physically in my hand. I can’t understand why people would buy gold and silver stocks.
I don’t know, there is no thrill in gold and silver.
We joke about it but it is kind of a casino here, lots of people are hoping to do a x3, x5 or x10 with their coins, or even x100 on some microcaps. You don’t get that with gold and silver.
You forget one thing: most of us are regular Joes with maybe a few thousand dollars in crypto. Converting to gold and silver is just not worth it.
Metals require additional safety and cost more to maintain (vaults, security etc), not to mention they’re harder to move. Good luck traveling with $500k in metals. I honestly don’t see it happening at all.
Where’s the innovation and new technology in that? No thanks.
Most people would totally ignore the fact that you need Silver to run majority of gadgets and Tech items and silver has been forecasted to go scare in coming years… I’m definitely looking at silver!
Why not opt for digital gold (Bitcoin)?
I’ll almost definitely branch out into precious medals sooner or later, most likely later. Cashing out at least part of longer term gains into gold, silver, etc instead of fiat’s an option we should all consider.
But around now is when I’d probably be in the process of converting gold to crypto if I had any, and I wouldn’t be looking at moving the other way until BTC and ETH are putting in new all time highs. I definitely wouldn’t be looking at precious medals as an escape route right now.
I had Gold and Platinum before crypto. Just sold them both recently actually. I’d hazard a guess that for older generations, maybe gold and silver are the gateway investment.
All that aside, why wouldn’t someone consider/do both; market cycles aren’t necessarily aligned?
I think many investing novices will be curious about diversification, sure. That’s fair.
It depends. I’m not really into commodities but crypto is pretty much the same as one. My preference would be to hold a solid dividend stock over gold or silver.
Gold and silver is a common investment in the boomer generation and their parents. I do not see the younger crowd shifting there.