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What Looks Best for Savings: Crypto, Gold or the USD?

#savings #Crypto #Bitcoin #GBiTS #gold #USD


“This blockbuster rally in tech has been delivering records some investors did not see coming” — Paul Ebeling

Ok, tech may have been taking a bit of focus off BTCUSD, which has had its own historic October, amid new exchange-traded bitcoin funds and record highs.

Our call of the day come to the 5th Future Investment Initiative running from Tuesday to Thursday in Saudi Arabia. Also known as “Davos at the Desert,” a simple Question on the opening panel revealed insight into big money managers’ feelings about cryptocurrency.

In attendance were Blackstone co-founder Stephen Schwarzman, Goldman Sachs CEO David Solomon, BlackRock CEO Larry Fink, Bridgewater Associates founder Ray Dalio, Mubadala Investment CEO Khaldoon Al Mubarak, African Rainbow Capital founder Patrice Motsepe, and Ana Botín, executive chairman of the Santander Group.

That Big Q: If they could be paid a dividend by an imaginary board, would they choose dollars, euros, some gold or bitcoin to “put under your bed for a rainy day?”

The 1st to answer was Ray Dalio. “I would put a mix together, I guess. I would take the gold…I would like to sprinkle a little bit of bitcoin into that mix too,” he responded.

“The biggest asset is human productivity and if you can tap that…so I’m looking at the new technologies and all of those [things] are very, very exciting,” Mr. Dalio said. “Gold is a dead asset, but the amount of printing of money and the devaluation of debt is a big force too. So I want that technology, a little bit of bitcoin, and I want to bet on those other industries.”

Next up was Blackstone’s co-founder Schwarzman, who said he just wanted to “own earning assets…as long as you can make things better and own wonderful things, you can come out and you can own dollars or you can own whatever you want to convert that currency into, but you’ll have more and more and more and you won’t be a professional victim.”

Santander’s Botín said she would take “50 cents in euros and 50 cents in dollars. Punto.”

BlackRock’s Fink, who responded: “In using Ray’s statement about technology and innovation and what Steve said, I’d put 100% in dollars.”

As for Goldman’s Solomon, he said given the topics the panel had discussed, which included battling climate change and corporate diversity and energy prices, he “thinks the glass is half full as a broad global community and in that construct I choose dollars.”

African Rainbow Capital’s Motsepe said as he has got 50,000 mine workers on the company’s mines, his choice would be gold.

“I’ll take bitcoin hedged in gold,” said Mubadala Investment’s Al Mubarak.

One more highlight from that panel: Mr. Fink also said there is a likelihood that Crude Ol will hit $100bll. And Mr. Dalio weighed in on Mr. Biden’s billionaire tax. People would pay more if the government spent better.

From Knightsbridge’s perspective: As bitcoin continues its rise, breaching new records and crossing the $1-T market capitalization mark in just the last wk, more investors are assessing the longstanding comparison between the famous cryptocurrency and an equally well-known asset class: gold. 

Both assets are often seen as ways to diversify a portfolio or as a hedge against fiat (paper) currency inflation brought about by what some observers see as unsustainable fiscal and monetary policies.

Our survey to see if they would rather hold bitcoin or gold for the next 10 yrs, and why? We asked bitcoin bulls, gold lovers, analysts, executives, and more.

Overall Bitcoin is a 100X improvement over gold as a store of value. The world is realizing this and beginning to reprice digital currency in real-time. Although bitcoin has increased hundreds of percent in the last few months, it is likely to continue appreciating in USD terms over the coming yrs. I suspect that bitcoin’s market cap will surpass gold’s market cap by Y 2030. For this reason no gold and vie for a material percent net worth be invested in bitcoin and GBITS.

Have a prosperoud s day, Keep the Faith!

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Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.