Peter Schiff, a popular mainstream financial commentator and gold advocate, recently told people to send Bitcoin (BTC) to his 18-year-old son. "Since so many of you Bitcoin guys are ribbing me because my son [Spencer Schiff] bought Bitcoin, why not really rub it in by gifting him some as a belated birthday present," Schiff said in an Aug. 27 tweet. "He turned 18 yesterday," Schiff noted. "He won't lose his," he said, posting his son's wallet address. Schiff's tweet points toward an event from earlier in 2020, when the gold aficionado admittedly lost his Bitcoin storage access. “I knew owning …

The price of Bitcoin (BTC) has increased by nearly 30% since late June, from $8,905 to just under $11,500 as of press time. Following the strong rally of the dominant cryptocurrency, three macro factors point at an optimistic medium-term trend. These macro factors hint at a positive medium-term to long-term price cycle but suggest that in the near term, momentum will fade and a consolidation phase will happen. As Cathy Wood, CEO of Ark Invest, discussed on the In the Know podcast, there is technically little resistance between $13,000 and BTC’s all-time high of $20,000. Wood noted that BTC might …

The “Buffett Indicator” is hinting that the United States’ stock market is currently at dot-com bubble levels, Yahoo Finance reported on Aug. 20. The indicator divides the Wilshire 5000 Index by the GDP of the U.S. Meanwhile, on Aug. 14, Warren Buffett-led Berkshire Hathaway invested in Barrick Gold, the second-biggest precious metal miner in the world. Some analysts said it could benefit Bitcoin (BTC) in the long term as it coincides with this stock market bubble alarm. The historical average of the indicator is 1, and before the dot-com bubble, it hovered at 1.71. Currently, the Buffett Indicator is reportedly …

As whispers of Bitcoin’s (BTC) promised financial breakthrough failing to materialize over the last few months have continued to garner steam, the price of the premier crypto asset recently surged above the all-important $12,000 psychological threshold, only to once again slip right under. However, as part of this development, the total cap of the crypto market reached an impressive $386.4 billion, a level only attained back in 2018. That being said, a multitude of factors, such as poor investor perception and lack of regulatory direction, seems to be preventing the market from flowering as previously envisioned by many experts. In …

Rampant inflation is affecting Turkish residents’ confidence in the nation’s lira fiat currency. According to a Reuters report on Aug. 14, locals are dumping lira, converting it to dollars and buying gold. Even with market interventions and reassuring stories about monetary stability coming from the government, the locals’ faith in the lira is on a downward trajectory. Inflation is currently at 11.8% and has overtaken the amount of interest offered for savings at banks. One resident was quoted as saying he had bought gold as a safe-haven asset: “I think it is the best investment right now so I converted …

The Bitcoin (BTC) and gold one-month correlation reached a record high of 68% as Bitcoin hit $12,000 early in August, but the correlation crashed by 20% the following week. Despite this, Bitcoin looks set to become digital gold in 2020 considering the price correlations and trends in the futures market. Both gold and Bitcoin are having a phenomenal year in terms of year-to-date returns. According to Skew Analytics, gold has a 27.93% YTD return, while Bitcoin has racked up a 71.68% YTD yield. Although Bitcoin sees much higher volatility than gold, it seems that in these uncertain, pandemic-stricken times, investors …

Investor Jim Rogers, chairman of Rogers Holdings, recently warned in an interview that recent central bank bailouts will bring about the worst economic meltdown in his lifetime. Central banks globally are printing trillions of dollars in an effort to help countries stimulate their respective economies. Although the S&P 500 has gone up 50% and has shown no signs of slowing down since March 23, Rogers believes that the bailout plan is not going to end well in the long term. In fact, Rogers thinks the US market is a bubble that is “waiting to end”: “Remember there is an election …

Anthony Pompliano believes that by the end of 2029, the market capitalization of Bitcoin (BTC) will be higher than that of gold. Source: Twitter. The Morgan Creek Digital co-founder’s tweet provoked a reply from Peter Schiff: “By 2029 you'll be lucky if the market cap of #Bitcoin still exceeds the market cap of a baseball cap.” This only led to Pompiliano doubling down on his prediction. He responded to Schiff, saying that he was trying to be conservative: “[I] Think approximately a decade is rather conservative, so trying to account for many things that could possibly happen to slow growth.” …

Jason Williams, co-founder and partner at hedge fund Morgan Creek Digital, predicted that famous investor and business tycoon Warren Buffett will buy Bitcoin (BTC). In a tweet shared on Aug. 15, Williams pointed out some of the most recent investment decisions of the American billionaire and predicted that he will end up buying Bitcoin. Buffett sold banks and bought gold. He will buy #Bitcoin soon. — Jason A. Williams🚀 (@GoingParabolic) August 15, 2020 Williams was referring to the most recent changes to the portfolio of Berkshire Hathaway, where Buffett is chairman and CEO. Fortune reported on Aug. 14 that the …

During times of international economic crisis, governments print money. This leads to inflation and investors subsequently stashing their investment capital in long-term, stable investments. Historically, that has meant gold, but in the current economic crisis, gold has been joined by another long-term store of value: Bitcoin (BTC). There are several good reasons for this. The United States Federal Reserve is handling the crisis terribly, and has responded to soaring unemployment numbers in the same way they always do: by printing money. Already, the dollar has lost 5% of its value, with predictions that this is only the beginning. The currency …

Berkshire Hathaway, the $503 billion conglomerate led by Warren Buffett, sold Goldman Sachs for a Canadian gold company Barrick Gold. Max Keiser, the founder of Heisenberg Capital and an early Bitcoin investor, says it could help buoy BTC to $50,000. The quarterly shareholder filing of Berkshire Hathaway shows Buffett trimmed his position on most major banks, Fortune reported on Aug. 15. The firm sold a substantially large portion of its shares in JPMorgan Chase, Wells Fargo and PNG. What Buffett’s decision to enter a gold position over banks shows about Bitcoin Buffett’s decision to completely close Berkshire’s position on Goldman …

The Winklevoss Twins suggested that Bitcoin (BTC) is a better investment than gold because the metal’s supply will increase after Elon Musk starts mining asteroids. In an interview with internet personality and Barstool Sports founder David Portnoy, the Winklevoss Twins claimed that Bitcoin is a better investment than gold because gold does not have a fixed supply: “There’s billions of dollars of gold floating in asteroids around this planet, and Elon [Musk] is gonna get up there and start mining gold. [...] That’s why gold is a problem, because the supply isn’t fixed like Bitcoin.” Portnoy reasonably asked, "Is that, …