ShareProphets

GOLD – If You’re Not Long, You Will Be Wrong - bitcoin & Metcalfe's Law

By Tom Winnifrith | Saturday 13 January 2018


 


Frank Holmes is chairman of a blockchain company (Hive) yet is a major gold bull. He became interested in the space when found out that the CEO of Fidelity a company with two trillion in funds has been discussing bitcoin. He says, “Something big is happening.

Holmes says that gold did spectacularly well last year and it has been an incredible asset play. What has been disruptive is the amount of money flowing into ETF’s, this caused concentration and these ETF’s were required to dump many stocks. This hurt the junior space, and it still hasn’t recovered.

Inflation doesn’t appear to be correctly calculated and indeed, most companies recognize this fact. He recommends a book called the “Wisdom of Crowds.” Gold and interest rates are rising, but they are not fast enough to deal with inflation. The mining supply side has been restricted by environmental rules, and we now have a twenty-year cycle from discovery to production. Quality gold and copper stocks are going to trade upwards. With gold, If your not long you will be wrong.

Frank discusses Metcalfe’s law and how it applies to bitcoin and much else in the latest podcast from Palisade Capital.


Filed under:



This area of the ShareProphets.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ShareProphets.com. ShareProphets.com does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ShareProphets.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ShareProphets.com and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.


Comments

Comments are turned off for this article.




Site by Everywhen