Here's another perspective, for Gold bugs -- I believe in a diversified portfolio, but I believe Bitcoin can change the world, whereas Gold has come and gone. It was an advance way back when, but nowadays we need a better technology with which we can cross borders unmolested.
If you try crossing the border with gold or silver on your person, you may get stopped, interrogated, and even get it confiscated. Not so with Bitcoin.
You also have to trust that: 1) if you keep it at home, no one is going to steal it from you (get a shovel and dig a hole), 2) if you have it kept at a vault, you're paying monthly and yearly fees, and you have to trust that the company will remain in business and that it won't take your gold if things get rough, and that the guards won't steal your gold (a lot of trust in troubled times), 3) you can't send it across the world to pay for services or help a friend (cryptos, you can, in a matter of seconds or minutes), 4) as we move closer to crossing into the Final Frontier, are you going to teleport gold to a spaceship so they can transact among them? How much weight in gold or silver must their carry in order to continue trading? And what happens when more babies are born but the money supply stays fixed? Do you have to shave off slivers of gold to pay for something? Isn't it better to simply use 8 Bitcoin's 8 decimal places? Or another crypto?
With all that said, I still believe Gold is a store of value and a chaos hedge. So, I do hope you invest in precious metals (especially Silver).
But now, let's look at the price of Gold, in Bitcoin:
Here you can see the latest bounce, suggesting that some BTC investors have taken profits and put them into GOLD -- a balanced portfolio!
But, if you zoom out a little more, you can get another perspective, in that the all time high for Gold is just over $2,000, but Bitcoin has been as high as $60,000.
And now, you can see that the price of Gold in Bitcoin is very low, and the current reversal is a blip on the radar. The higher the price of BTC goes in USD, the lower this ratio. And Gold is going to have to rally to never before seen heights in order to compete with Bitcoin's gains.
And we don't even have mainstream adoption yet... we're getting there, but still lagging. When that happens and demand spikes up, by the law of supply and demand, the price will go much higher. How much? No one knows. There are wild predictions, but from my side, without being able to guess numbers, I ask myself: do I put my money in the derivatives game, where I know the game is rigged against me, and where they keep pumping fiat in order to keep it from going down (until it inevitable collapses) or do I put my money in the ONLY economic constant there is... You know there will only ever be 21 million Bitcoin, and you know people like Max Keiser will lose their wallets and keep more and more coins out of circulation. The very first truly deflationary asset. The very first asset which will continue to increase in price as supply decreases.
When other people catch on, I expect there will come a time where people would pay anything for it and no one will sell it. And I believe that time is soon -- in the next 18 months, I believe.
So, keep buying and holding. Dollar cost average in. If you can buy $10 a month, buy it. If you can do $100, buy that. Spend only the money you can afford to live without, and diversify your portfolio as soon as you can, but if you have nothing, Bitcoin is a great place to start.
