$104,933.00
3.68%$2,402.60
7.54%$2.15
6.65%$639.94
3.05%$143.31
7.68%$0.999803
0.00%$0.2729
2.47%$0.16343
7.07%$2,403.42
7.70%$0.581397
6.55%$104,805.00
3.65%$36.85
4.82%$2,897.54
7.56%$2.79
12.33%$458.29
1.62%$12.99
11.20%$9.15
0.89%$0.245582
6.86%$18.03
8.51%$0.999714
-0.01%$2.89
5.19%$47.87
-0.72%$0.00001162
8.84%$84.36
5.18%$0.151027
11.40%$2,401.81
7.47%$1.00
0.06%$2,572.96
7.58%$311.50
3.33%$0.999942
-0.04%$3.40
6.50%$4.24
4.51%$104,901.00
3.68%$0.00000991
12.00%$6.80
8.70%$0.527156
4.67%$259.63
13.11%$1.18
0.06%$355.32
16.11%$51.85
-4.91%$1.00
0.00%$4.29
8.86%$0.0861
6.03%$1.056
0.02%$4.92
7.37%$2.14
12.18%$173.73
7.89%$16.34
7.25%$0.757306
11.96%$27.77
1.77%$0.999768
0.03%$0.60551
3.74%$16.39
3.20%$0.072963
11.78%$4.44
-0.02%$9.22
7.01%$0.0213811
10.11%$4.00
7.11%$0.084275
14.81%$0.685924
16.40%$105,050.00
3.96%$3.19
14.12%$0.269412
11.88%$0.18057
4.38%$0.932396
13.46%$0.178612
12.45%$2.25
7.60%$0.305611
13.07%$0.998696
0.30%$0.266716
31.63%$4.35
4.07%$0.999905
-0.00%$2,404.58
7.66%$97.93
7.17%$11.01
2.52%$0.998545
-0.18%$151.51
7.51%$0.206847
7.12%$0.408894
17.58%$1.19
6.91%$1.27
26.00%$0.01694728
5.52%$2,730.33
7.32%$2,515.66
7.50%$11.18
13.16%$1.67
20.54%$0.00001398
14.06%$1.56
11.45%$1.024
11.99%$0.322761
15.99%$1.00
0.04%$0.99926
-0.04%$0.641565
14.19%$0.548755
12.00%$0.058977
5.55%$0.99964
0.00%$104,743.00
3.79%$2,563.95
7.81%$1.11
-0.01%$2,520.37
7.47%$3.03
0.41%$3,374.46
-0.26%$639.79
3.04%$104,557.00
2.95%$0.829301
19.48%$3,357.45
-0.30%$0.519377
8.84%$105,729.00
3.47%$0.08202
11.67%$2,518.73
7.23%$0.578023
8.73%$0.417887
14.51%$160.29
7.94%$2.12
7.64%$111.54
0.02%$186.70
7.80%$0.00007237
13.36%$2.18
7.72%$0.820722
6.89%$2,597.23
7.60%$0.668701
11.29%$41.43
8.54%$0.998816
0.05%$0.01014302
0.69%$0.710408
8.26%$0.01307787
17.62%$1.084
-0.81%$0.01385343
10.52%$18.78
9.87%$0.16203
9.73%$0.254296
9.21%$0.23508
9.67%$0.00976292
14.23%$30.77
5.56%$0.997669
0.01%$0.0000006
7.49%$1.98
6.37%$104,268.00
3.55%$3.61
10.60%$0.427333
11.32%$0.532365
7.42%$0.096219
12.14%$104,683.00
3.79%$2.04
10.70%$36.77
4.73%$2,404.85
7.71%$2,403.39
7.61%$0.491229
10.83%$0.330392
8.10%$0.521616
5.64%$104,897.00
3.54%$0.999695
-0.02%$2,521.58
7.46%$2,562.59
7.62%$0.261171
9.19%$0.619141
9.32%$1.00
0.12%$1.37
9.78%$0.014033
5.99%$2,401.80
7.47%$0.42347
4.13%$7.85
0.71%$47.32
6.55%$0.061052
0.16%$0.9998
0.01%$2.36
5.75%$0.999518
-0.02%$36.76
4.80%$0.04283328
19.00%$0.160779
35.68%$0.163332
6.75%$0.419057
11.89%$1.35
15.70%$1.091
0.04%$0.994182
-0.17%$0.0000004
1.68%$0.00683713
20.08%$1.001
0.03%$5.55
9.91%$1.001
0.20%$0.0042351
24.87%$13.60
10.73%$0.323721
18.46%$0.114139
10.17%$2,403.38
7.70%$0.518466
8.57%$0.00001861
6.90%$2,551.38
7.64%$2.26
10.07%$0.983778
16.44%$0.00000093
27.48%$0.486564
10.36%$1.14
12.91%$0.069205
8.74%$0.354021
5.10%$0.00399837
16.75%$0.03472646
2.91%$0.342929
5.46%$0.164061
-2.68%$5.21
5.21%$0.136303
13.80%$0.03507207
8.13%$1.18
4.70%$0.00338851
22.63%$1.40
8.82%$2,650.19
7.62%$104,812.00
3.76%$105,008.00
3.96%$19.73
1.57%$0.01673837
2.92%$2,625.29
7.36%$0.99994
0.01%$0.999385
0.04%$0.999811
0.04%$156.24
7.76%$2,406.45
7.77%$0.03062794
-1.19%$0.764557
29.26%$0.00005515
4.69%$1.11
10.46%$0.999884
0.03%$10.03
3.37%$0.70803
5.21%$0.299949
15.24%$0.445333
7.05%$2,404.13
7.55%$108.98
6.69%$0.04467566
13.18%$0.00338659
6.27%$0.06151
12.52%$104,861.00
3.28%$0.00000136
3.54%$18.02
8.48%$1.002
0.47%$0.00517914
14.88%$1.67
-1.20%$0.600231
17.79%$0.594723
7.19%$102,933.00
3.86%$1.016
0.12%$2,107.67
3.70%$0.180606
4.29%$6.16
11.42%$0.00367545
16.44%$0.18156
8.10%$101,794.00
3.24%$0.999287
0.01%$14.62
6.13%Reading
The price of gold has fallen four percent today, continuing its price slide from last week.
Gold has a longstanding reputation as a hedge against uncertainty, with its price traditionally rising when other stocks are falling. Bitcoiners argue that the same applies to BitcoinBitcoin: that it is designed to counter an economy that prints money at will, and where inflation is rampant. They call it ‘digital gold’.
This narrative has come under strain over the last week. As the economy has fallen out of the sky, so has the price of Bitcoin. It is now down more than 50% from $9,600 to its current value of $4,770.
The mother of all weeks has seen Bitcoin in freefall. The biggest price drop since 2013 followed a WHO announcement of a global pandemic, and President Trump’s ban on flights between the US and Europe. Uncertainty gripped the financial markets, and sent cryptocurrencies plummeting along with other assets, stocks and bonds. On Thursday, Bitcoin had its worst day in history. Its price dropped from $7,900 to $4,600 over 40%. It then continued to drop, reaching a low of $3,850. While it’s bounced...
However, gold has been following the decline of the stock markets too. After rising 30% over the last year, it has dropped by 11% over the last nine days, seeing further declines today.
“Things are so bad that even gold is not a safe haven,” tweeted Bovell Global Macro, a hedge fund based in the Cayman Islands.
Few investments are performing well right now; the only exceptions are cash and certain stocks, such as products that support remote working.
Things are so bad that even gold is not a safe-haven.
— Bovell Global Macro (@Bovell_GM) March 16, 2020
Despite this, goldbugs remain certain that its status as a safe haven is secure.
According to the Telegraph, traders have been selling gold to cover losses in the stock market—or to buy stocks at a discount. And that, once the market rebounds, the prices should bounce back.
Peter Schiff, CEO of Euro Pacific Capital, tweeted: “Gold is falling because investors are clueless as to what is coming. Their mindset is similar to that of central bankers. They have no idea how bad the consequences of the current monetary & fiscal policy mistakes will be. When they figure it out en masse, gold will skyrocket.”
Gold is falling because investors are clueless as to what is coming. Their mindset is similar to that of central bankers. They have no idea how bad the consequences of the current monetary & fiscal policy mistakes will be. When they figure it out en masse, #gold will skyrocket.
— Peter Schiff (@PeterSchiff) March 16, 2020
Despite Bitcoin’s price drop, Bitcoiners are arguing the same thing. “Bitcoin is the world's greatest hedge to this,” Tyler Winklevoss, CEO of crypto exchange Gemini, tweeted, referring to the Fed’s decision to cut interest rates to near zero.
That is, if either Bitcoin or gold ever recover.
ECD Automotive Design, Inc. has secured $500 million to acquire and store massive amounts of Bitcoin in a corporate treasury, according to the firm’s statement on Monday—a business strategy that has gained traction among a number of public companies over the past few months. The Florida-based car restoration company, which bills itself as the largest restorator of Land Rovers and Jaguars, signed a $500 million equity facility with ECDA Bitcoin Treasury LLC, according to its press release. An...
Positive legislative and regulatory developments buoyed Coinbase’s stock last week, among other events boding well for the crypto exchange’s long-term growth prospects, investment bank Benchmark, wrote in a Monday note. The company’s share price jumped more than 23% as Coinbase secured a Markets in Crypto Assets, or MiCA, license and a bipartisan slate of U.S. lawmakers passed the GENIUS Act in the Senate, which seeks to establish federal rules for stablecoins, Equity Research Analyst Mark Palme...
Social media personality and crypto investor Anthony Pompliano unveiled a $1 billion merger on Monday to create ProCap Financial, a Bitcoin-native financial services firm that will soon join a growing list of companies stockpiling the asset on the Nasdaq. Pompliano, who began promoting ProCap in April, said on X, formerly Twitter, that he had recently raised $750 million from “leading institutional investors on Wall Street” for the blank-check firm, alongside heavy hitters in the cryptosphere. “...
