Jefferies sells Gold to buy Bitcoin

[Charles-Tim]

On the other hand bitcoin, a generally crypto market is much riskier the price movement range or atr is way higher than gold, however in my own idea time after time the market is becoming more stable.

If how to avoid hack and scam have been known and completely avoided, I do not think holding bitcoin is much riskier, but doing with altcoins is riskier. Even holding bitcoin is more convenient and flexible.

Very possible the marketcap of bitcoin will increase to a very greate extent, maybe the market can later be less volatile, but at the time, people will also be look for other more volatile means, but I think upcoming altcoins at the time can provide that though while some will remain shitcoins and some will become dead.

Even as the price of bitcoin is highly volatile, all-time-high will always still be the end result as only few people are still holding bitcoin in the world and as governments will always have no option than to always devalue fiat.

[Taskford]

Selling an asset to buy another asset makes sense especially if you know about money management. Gold got a much more stable market and the price is usually stable, even if you have the average true range you will understand the range of market price for gold and that's completely obvious for anyone. On the other hand bitcoin, a generally crypto market is much riskier the price movement range or atr is way higher than gold, however in my own idea time after time the market is becoming more stable.

Yeah it make sense to the extent that he can possible increase his profit if he generally hit the best position upon buying but if he join here since he got FOMO on what's happening in the market then maybe this is different story. But I believe that guy is smart and knows how the handle the market stress knowing gold has its own volatility to but hopefully he will not do any bad decision since we know getting afraid with fuds can make our life miserable especially if we do panic selling.

[Betwrong]

This is a heartwarming news to me personally. I'm tired of saying for years here and there that Gold is a highly overestimated asset. It's price will inevitably start dropping after some negative attitude towards those wearing gold will be expressed in mass media and pop culture. Why? Because Gold is pricey only because people believe it is. Yes, it is used in dentistry and electronics, and it's irreplaceable there, so far. But around 80% of the gold consumed each year is used in the manufacture of jewelry. When most people stop wearing gold its price will drop significantly. When alternatives for usage in  dentistry and electronics invented - the price will drop even further.

[Kakmakr]

Yes, it looks like he is firmly sold on Bitcoin now.. https://www.coindesk.com/business/2021/11/04/jefferies-wood-urges-banks-to-embrace-blockchain-add-more-bitcoin-exposure/

I think this is a perfect example of a balanced portfolio as quoted from him... " His portfolio recommendation currently has 40% gold, 30% Asia (excludingJapan) equities, 20% unhedged gold mining stocks and 10% bitcoin exposure. "

He already made these predictions back in April 2021 --> https://www.timesnownews.com/business-economy/markets/article/top-strategist-chris-wood-bites-the-bullet-on-bitcoins-says-disruption-coming-in-a-decade/741218

[aysg76]

It is yet another example that Bitcoin is the best safe-haven asset and the best hedge against inflation, managers start acting as if it were:

That's why it is termed as deflationary asset against rising inflation because if you are holding any other financial assets like gold or any other they will devalue over time as they are mostly pegged to USD or local fiat and we all know fiat is worthless paper and the government's are taking full effort to create hyperinflation with printing more and more notes out of thin air.You could easily check all the currencies and make their past comparison and you will automatically find out that they have been reducing in value reluctantly from long time whereas btc has shown growth at an unexpected rate over these 13 years and now crossed $65k mark so many are shifting the momentum towards it no doubt he is also doing the same and he knows the right option is bitcoin.

I think in the long term gold will continue to have value mainly as costume jewelry, but as a store of value Bitcoin is going to eat into it.

Gold was safe heaven in the past but it still is not moving a step and people are living in some kind of delusional world where gold is best option to them.They are just not taking out research about the gold to find out it has not given any return from last 10 years and the little pump in prices shakes off the community like million dollars profit has been poured to the basket.Making comparison of Bitcoin with gold is wrong or calling it digital gold also because it's worth more than that.You needs to deposit your gold bonds and even the real gold in lockers to the central authority and still it's losing value like nothing.As per one image posted by @Ratimov the gold investment of $1000 are worth $996 at the current prices which is insane and still people believe in it? I posted a relevant meme in WO about the same and here it is :



Gold is like holding to the fiat only which is going to be zero with time and those who don't find it right are still living in some kind of government created imaginary world where everything is under control but they don't tell it's under central control and bitcoin is the key to the real world.

[proTECH77]

Many gold investors in my community are preparing to change their mind to switch to bitcoin investment because of what bitcoin investors are enjoying in the community. When many gold investors were crying about the economy covid-19 virus has collapsed some years ago that was giving bitcoin investors massive earning in the market. Till now bitcoin investors are still smiling with their profits are they are making each day in the market.
Selling your gold to buy bitcoin is a good choice to any investors can do at this season of Profit earning. Many investors are selling gold and other assets to purchase bitcoin since the price just increased to $70k in the market.

[arallmuus]

This is a heartwarming news to me personally. I'm tired of saying for years here and there that Gold is a highly overestimated asset.

I kinda think that gold is not really replaceable atleast not in this century. If we compare the number of people that finally adopt bitcoin and those that are still saving their cash in form of gold, the number of those still believing in gold are still quite high

Even if some big names such as Elon, Tim Cook and some other finally started to use / own bitcoin or cryptocurrency, they actually do have alot more asset saved in gold or bonds. Cryptocurrencies for now is nothing more than speculative asset so as long as it remains as speculative asset, alot more people will keep on sticking with gold

[el kaka22]

It makes sense to sell gold right now because it has a limited potential. Don't get me wrong I am not saying that it is a bad investment, of course it is a good investment and has been since gold standard has been gone and that is why I understand people who invest into gold. However there is a limit to it, I do not think that it will drop too much and I do not think that it will go up too much neither and you just have to wait for it to handle and just be what it is. That means that we are in a situation where it doesn't make sense to me to invest into it if you really want to create wealth.

It is something that you store your wealth and if you are already rich that means gold will make sure that you stay rich and that's it. Crypto however is something that could make you rich, if you are poor right now it is hard but if you are doing well enough then you could become rich with crypto.

[Oilacris]

This is a heartwarming news to me personally. I'm tired of saying for years here and there that Gold is a highly overestimated asset.

I kinda think that gold is not really replaceable atleast not in this century. If we compare the number of people that finally adopt bitcoin and those that are still saving their cash in form of gold, the number of those still believing in gold are still quite high

Even if some big names such as Elon, Tim Cook and some other finally started to use / own bitcoin or cryptocurrency, they actually do have alot more asset saved in gold or bonds. Cryptocurrencies for now is nothing more than speculative asset so as long as it remains as speculative asset, alot more people will keep on sticking with gold

Why people do really find out the probability of replacing gold on upcoming years to come by bitcoin or crypto? Havent they realized on how long gold had been existing for how many millenias?

It isnt really just something that could be replaced in terms of its value by some code being created by man.Im not saying its shit
but why we cant just mind off that both could exist on the same time?

There might be some comparison in terms of value but to think that both are entirely different things.

[yananda]

some people may not agree with the decision but after we see the profit that can be obtained of course it is the right decision
Even if you sacrifice existing assets, in the future you will get doubled

[magneto]

Even Tim Cook is saying that crypto is a crucial part of a well balanced portfolio.

People's fears right now of buying crypto are unwarranted. They have to realize that institutional adoption has already caught up and it would be a matter of time before it is a globally recognized store of value (arguably already is).

Don't treat it as a profit making undertaking but rather a way to store your wealth long term, without being subject to rampant inflation.

[SirLancelot]

For sure, a lot of people are going to choose bitcoin over gold when it comes to choosing their safe haven.
At first a lot of people don’t use to choose cryptocurrency investments because they do not understand how it works, and because of the way things are in the Internet it makes them think that it is a scam, but as time goes on they get to learn about it from friends who are then investing in it and that’s how they will be motivated to start up their own investment as well.

You should expect to see more of the institutional investors and rich investors buying up more Bitcoin as time goes on, because it’s now a very popular asset for them this time around. Cryptocurrency has been a huge trend from last year to this year.