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  • Bitcoin has actually only taken 2% of gold market cap, new data suggests

    From cointelegraph.com

    Bitcoin (BTC) has much further to go to suck away even 10% of gold’s market cap than old data claims, a popular indicator reveals. Highlighting numbers from Bitcoin’s realized cap on Jan. 12, Ki Young Ju, CEO of on-chain analytics resource CryptoQuant, said that the cryptocurrency had taken far less of gold’s market cap than previously claimed. As Bitcoin grew in price towards the end of 2020 and hit all-time highs of $42,000 last week, a narrative appeared that investors were swapping gold for BTC, and that Bitcoin had thus taken around 7% of the precious metal’s market cap of $10 trillion. Using realized ... (full story)

  •  Guest
  • | IP XX.XXX.12.196
Makes sense and one hopes everyone cools down now about Gold woes (any time the market sells off) being due to bitcoin. But alarming that analysts went to town with the idea as fact and clearly without any proper research. Interesting!

The Crow (-_-)
  •  Guest
  • | IP XXX.XXX.0.10
I personally, as someone who identifies as a young, tech savvy individual, would be reluctant to keep any more than 5% of my portfolio in crypto (Bitcoin and ETH combined). However, at the same time, I am very comfortable keeping up to 20% in gold, and the reason for that is because you can see how much % gold has ever gone down by, in a given year. Compare that with bitcoin and I end up thinking, no its not an option at all.
Stinking idiots.


First it says 2% then 7.



Dumboooos
Quoting Guest
I... 5% of my portfolio in crypto (Bitcoin and ETH combined). However, at the same time, I am very comfortable keeping up to 20% in gold, and the reason for that is because you can see how much % gold has ever gone down by, in a given year. Compare that with bitcoin and I end up thinking, no its not an option at all.

You're a moron.

Gold has been falling since about 2000 year.



Bitcoin has gone from 0 to 35000 dolllaaaaaas.




Dupfernikel
You misspelled "Bitcoin has already taken 7% of gold trash market cap and going strong "


Fixed it
  •  Guest
  • | IP X.XXX.192.241
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  • Story Stats
  • Posted: Jan 13, 2021 10:26am
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 5  /  Views: 238
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