Deutsche Bank: Investors Moving From Gold to Bitcoin
Plus bitcoin's implied volatility is on the rise
Happy Thursday, Blockfolians
Another day, another positive report from some massive traditional financial institution. The bank’s head of global fundamental credit strategy said:
“There seems to be an increasing demand to use bitcin where gold used to be used to hedge dollar risk, inflation, and other things.”
The gold vs. bitcoin debate is heating up. Gold is up 22% this year while bitcoin is up 144%. As the “digital” gold narrative dominates with bitcoin, many are seeing that digital native nature of bitcoin as something that could fundamentally disrupt the role gold plays.
This is why Stan Druckenmiller has gotten into bitcoin; its the preferred version of gold for millennials and tech money.
The Schiff family Thanksgiving could get pretty interesting this year.
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A Really Big Number We Should Be Paying Attention To
That’s bitcoin’s implied volatility - a 4 month high - as investors get prepared for the possibility of a pull back
Another great thread from Sahil