Gold

<p><strong>Will gold emerge for one last stand? This is strongly suggested by the rise of Bitcoin.</strong></p>
<h2 id="barbaric-relic">Barbaric Relic</h2>
<p>As <a href="https://www.cointribune.com/en/poutine-who-can-stop-bitcoin-no-one/" target="_blank" rel="noopener noreferrer nofollow">Vladimir Putin</a> seems to be closely interested in Bitcoin, Igor Sechin, CEO of Rosneft, Russia’s largest oil company, has polished gold at the 17th Eurasian Economic Forum in Verona, United Arab Emirates.</p>
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<p>For Igor Sechin, gold can become the main competitor to the dollar in global trade.</p>
<p><em>“Using the dollar as a sanctioning instrument is a grave mistake, for one simple reason: trade will never stop. Energy security and life in general depend on it. Alternatives will always be found. Gold, which humanity has used for thousands of years for its transactions, will be the main competitor to the dollar,”</em> said <a href="https://tass.com/economy/1882707" target="_blank" rel="noopener noreferrer nofollow">Mr. Sechin.</a></p>
<p>The barbaric relic is well-regarded in Russia. The central bank holds more than 2,300 tons, equivalent to 200 billion dollars. That’s an amount of money that couldn’t be frozen by the Western camp following the invasion of Ukraine.</p>
<p>However, while gold has withstood the test of time, it is a poor payment system. Moving gold from one country to another is slow and extremely expensive.</p>
<p>In contrast, it is possible to transfer any amount of bitcoins instantly for just a few cents in transaction fees. Transferring 1, 10, or 10,000 BTC costs the same.</p>
<p>Gold has immense flaws, and voices are rising in the United States in favor of selling Fort Knox’s gold to accumulate bitcoins instead. Notably from Senator Cynthia Lummis.</p>
<p>Here’s a comparison of the market capitalizations of gold and Bitcoin on the side. The 2 trillion dollars of Bitcoin now represent about 12% of the 16 trillion dollars of all the gold in the world:</p>
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     <p lang="en" dir="ltr">making progress but still early<a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#bitcoin</a> vs <a href="https://twitter.com/hashtag/gold?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#gold</a> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/UOobAcp8yV" rel="noopener noreferrer nofollow">pic.twitter.com/UOobAcp8yV</a></p>— Alex Thorn (@intangiblecoins) <a href="https://twitter.com/intangiblecoins/status/1861158880962552204?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 25, 2024</a>
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<h2 id="h-gold-vs-bitcoin">Gold vs Bitcoin</h2>
<p>Bitcoin is infinitely more precious than gold. Not only because its digital nature allows for instant and low-cost payments, but also because there will not be more than 21 million bitcoins while more and more gold is mined each year.</p>
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<p>Bitcoin is a potential international currency, and Michael Saylor clearly articulated it on Yahoo Finance:</p>
<p><em>“Bitcoin is emerging as the global capital network. The U.S. government should buy 20 to 25% of the bitcoins</em> <em>before the Chinese and Russians.</em> <em>We should swap our gold reserves for bitcoins. This would allow us to acquire 5 million bitcoins. In doing so, you would demonetize the entire asset class of gold. Our enemies hold gold, so their assets would drop to zero while ours would reach one hundred trillion dollars. We would control the global capital network as well as the international reserve currency.”</em></p>
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     <p lang="en" dir="ltr">SAYLOR: I’ll be buying the top forever. I’m confident I’ll be buying Bitcoin at $1 million per coin—likely around $1 billion worth of Bitcoin per day at that price.<br><br> <a href="https://t.co/9wKbq57aNN" rel="noopener noreferrer nofollow">pic.twitter.com/9wKbq57aNN</a></p>— Bitcoin News (@BitcoinNewsCom) <a href="https://twitter.com/BitcoinNewsCom/status/1864780148668563773?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 5, 2024</a>
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<p>This scenario is more relevant than ever now that <a href="https://www.cointribune.com/en/bitcoin-trump-takes-the-world-by-surprise/" target="_blank" rel="noopener noreferrer nofollow">Donald Trump</a> has promised to <em>“not sell the bitcoins that the government already owns [200,000 BTC], or that it will acquire”</em> during the Bitcoin conference in Nashville.</p>
<p>It remains to be seen whether Russia and China will allow themselves to have the rug pulled from under them after accumulating large amounts of gold since the second Gulf War…</p>
<p>A state FOMO could quickly propel bitcoin towards a million dollars. Standard Chartered bank believes that the value of bitcoin will double in 2025 to 200,000 dollars.</p>
<p>The main catalyst could be a flip-flop on the part of China. Don’t miss our article: <em><a href="https://www.cointribune.com/en/bitcoin-china-up-against-the-wall/" target="_blank" rel="noopener noreferrer nofollow">“Bitcoin – China against the wall.” </a></em></p>

Bitcoin And The End Of Gold

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