Gold Is Dead, Long Live Cryptos

Gold Is Dead, Long Live Cryptos

You could have put money into anything – anything at all – over the past six years and done better than . Real estate, stocks, kitty litter. Gold has been a total piece of garbage and I’ve got a sneaking suspicion that gold bugs have had it up to “here” with the precious metal and are moving into cryptos.

SPDR Gold Shares

SPDR Gold Shares

Those who love gold must feel horribly betrayed, particularly as they look at . The same money put into cryptos instead of gold would have yielded millions – if not billions (given enough starting capital) in profits, whereas gold has just withered away like a maple leaf on an autumnal sidewalk. It’s no different for the miners, of course.

VanEck Vectors Gold Miners

VanEck Vectors Gold Miners

The reason I think of these two (gold and bitcoin) together is because the zeitgeist is sort of the same:

(a) anti-government

(b) anti-central bank

(c) safe haven

(d) contrarian. Gold has betrayed its zealous following, whereas bitcoin has made its adherents incredibly rich.

(Why?)

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