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The most embarrassing chart for the crypto industry this year is the price of real gold versus the price of its main digital rival. Since January 1, the yellow metal has rallied 23%, while bitcoin (BTC) has declined 12%. Gold’s outperformance on price isn’t only impressive on an absolute basis but also disproportionately impressive due to gold’s much larger size. Indeed, there’s at least $21 trillion worth of mined gold in the world versus just $1.6 trillion worth of mined BTC. Coded orange for BTC and yellow for gold, Protos has charted the divergence of the two assets as a visual checkpoint for BTC investors. That $21 trillion estimate is at the lower end of many other estimates that acknowledge the length of time for which humans have hidden and hoarded gold. Simon Hunt, for example, thinks that China alone might secretly own 40,000 tonnes of gold — 5X the amount held by the US — and that Russia owns over 11,000. Other researchers have an ar...

It’s no longer the Asian countries that are aggressively accumulating gold in their central banks and ending reliance on the US dollar. A new European country joined the league to become the biggest buyer of gold last month diversifying its assets in the central bank and not giving foremost importance to the US dollar. If European countries start the trend of diversification in central banks, it could cause major financial havoc in the US. Also Read: 50 Countries Eye De-Dollarization & Reduce US Dollar Dependency Poland’s Central Bank Starts Accumulating Gold, Sidelines US Dollar in Reserves Soirce: Watcher Guru The new European country to accumulate tonnes of gold in their reserves and sideline the US dollar is Poland. Poland’s central bank brought 16 tonnes of gold last month making it the biggest buyer of the precious metal in March. It even raced ahead of China, India, Russia, and Brazil who were actively accumulating the glittery metal since 2022. Also Read: De-Do...

Bitcoin recession prediction has become a hot topic as Mark Cuban backs Bitcoin over gold in tough economic times. The billionaire’s Bitcoin vs gold investment view has created waves in both traditional and crypto markets. Source: JustCapital “People look at Bitcoin as a better version of gold, and I agree with that,” Cuban stated firmly in his latest Wired interview. Also Read: Trump’s NFTs Make History: First-Ever Launch on Bitcoin Network! How Bitcoin Could Outperform Gold in a Recession and Market Volatility Digital Advantages Over Physical Gold “People aren’t going to walk around with gold bars,” Cuban emphasized. “Oh, look, he owns gold. Bam! Now I own gold.” His Bitcoin recession prediction focuses on basic benefits: “It’s easier to buy and sell. You can fractionalize it, you can buy things, you can transfer it internationally. And so I think it has more value than gold,” he stressed. Economic Outlook and Bitco...

During a recent appearance on a Yahoo! Finance podcast, Michael Saylor called for investors to dump gold and buy bitcoin (BTC). This time, he escalated his plea to treasury secretaries and central bankers. He jeered at the owners of the gold in large banks, including sovereign treasury funds and central banks, for failing to adopt BTC as the “world’s reserve capital network.” He also suggested the US should somehow dump its gold, purposefully crashing its price, and then use the proceeds to acquire approximately 5 million BTC. On $BTC 100K Day, my discussion with @JulesHyman covered advice to @stoolpresidente, cyber-manhattan, the need for a digital assets framework, the emergence of #Bitcoin as the world reserve capital network, and the logic of a US Strategic #Bitcoin Reserve. pic.twitter.com/XG9uChRap8 — Michael Saylor️ (@saylor) December 6, 2024 With incredible clarity, Saylor advised the incoming US administration to “buy 20-25% of the BTC network on behalf of ...

The global markets are currently experiencing a tumultuous change. Rising geopolitical changes are giving birth to new economic changes. At the same time, the US dollar devaluation has peaked at its prime, with alternative currencies like the Chinese yuan gaining steady momentum in the space. Will the US dollar sustain such severe injuries to its prestige? Also Read: ASEAN: Steps To Ditch US Dollar Gains Momentum In South East Asia Chinese Yuan Surges To New Highs Source: Shutterstock According to the Financial Times, China’s use of the renminbi has recorded a new high in cross-border transactions. The renminbi is becoming an increasingly popular currency for cross-border transactions, with people opting for RMB to initiate global transactions. 90% of all trade between China and Russia is conducted in Ruble or Yuan after ditching the US Dollar. pic.twitter.com/kLuoGwMSL4 — BRICS News (@BRICSinfo) May 16, 2024 The usage of the Renminbi has found a new footing in Russia, as the re...

Gold has indisputably become one of the biggest assets to trade in, leaving the US dollar in bits after its recent price hike. XAU is currently trading at the $24k price mark, with predictions signaling its rise to $2,900 very soon. With consistent GOLD price spikes, the US dollar is now losing its global dominance inch by inch. The swelling debt numbers are also eroding USD prestige, catapulting GOLD to new price levels. With eccentric dynamics at play, what lies ahead for GOLD and USD? Let’s find out. Also Read: Stock Up Gold: XAU To Hit $2,900 By August 2024, Expert Predicts XAU Becomes the Second Largest Asset Held in Global Banks Source: Freepik.com Per a recent assessment done by The Kobeissi Letter on X, the global central banks are heavily focused on piling GOLD . This has had a significant impact on its price and valuation. Per KL, GOLD ’s share in international reserves has skyrocketed to 17.6%, which is dubbed a massive surge in the last 27 ye...

Throughout 2024 thus far, Gold has performed immensely well. Since December of last year, the asset has been setting new all-time marks. Yet, it has also undergone a recovery over the past several days. However, the recent slump in gold prices doesn’t deter its $2,700 price target for 2024’s end. Earlier this month, GOLD recorded a notable decline in value. Specifically, the asset is currently trading at just below the $2,300 mark that it had held onto for a few weeks. However, the overall drivers to GOLD ’s success this year ensure that it can continue its climb. Also Read: Gold Prices Fall Ahead of Wednesday’s FOMC Meeting Gold Price Correction Won’t Change Upward Trajectory Although we are only a few months into the year, GOLD and Bitcoin still prove to be the most prominent assets. Their increase in prominence may be for different reasons, but both provide optimism for future performance as the year continues and recent corrections have diminis...

Gold prices are finding resistance at the $2,040 level and are currently consolidating in the charts. The precious metal delivered decent returns last year in 2023 after it spiked 12% YoY. The price rise occurred after the US dollar briefly declined globally due to inflation and soaring crude oil prices. The US Treasury yields did not come out as expected and the sell-off benefitted Gold Prices immensely. Also Read: BRICS: India Gets Reality Check, Ditching US Dollar Becomes Impossible Source: Yahoo Finance Gold Price Target For 2024 Source: goldavenue.com The SPDR Gold Shares (GLD) currently stands at 189 points and remained in the green this year in 2024 for three consecutive days. Financial and commodities analyst Bruce Kamich correctly predicted last year that SPDR GOLD (GLD) prices will end in 2023 above the $180 level. The analyst has now set a new target for SPDR Gold Prices in 2024. Also Read: BRICS: ‘Joint Currency’ Could Be Launched To Challenge US Dollar The...

Global investment bank Jefferies asserts Bitcoin (BTC) as a safeguard against currency devaluation and rising inflation . The price of Bitcoin hovers at around the $27,961 region as of press time.   Jefferies, a prominent global investment bank, advises long-term investors, particularly pension funds, to allocate 10% of their portfolios to Bitcoin, denominated in U.S. dollars.  The bank underscores the importance of considering investments in Bitcoin and gold as insurance measures rather than short-term trades. They highlighted that attempts to tighten monetary conditions will face extended delays in this economic cycle, attributing it to the substantial increase in the money supply since 2020. Christopher Wood, Jefferies’ Global Head of Equity Strategy, expresses concerns about the ability of G7 central banks, including the Federal Reserve, to transition away from unconventional monetary policies smoothly.  He suggests that these central banks will likely maint...