Demand for Silver in 2 decades Channeled into Bitcoin and Other Cryptos – Goldmoney CEO - Today's Gazette - Cryptocurrency, Bitcoin, Ripple, Tron, Verge, Cardano News
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Today's Gazette – Cryptocurrency, Bitcoin, Ripple, Tron, Verge, Cardano News

Today's Gazette – Cryptocurrency, Bitcoin, Ripple, Tron, Verge, Cardano News

Demand for Silver in 2 decades Channeled into Bitcoin and Other Cryptos – Goldmoney CEO

Revisiting Erik Voorheers’ Tweet When Bitcoin Breaks $7 in 2012 and Man Who Regrets Selling 1700 BTC at $0.3 in 2011

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Demand for Silver in 2 decades Channeled into Bitcoin and Other Cryptos – Goldmoney CEO

Analytically based on return, Bitcoin remains the best asset in the year 2019 with over 300% growth. In a comparison between Bitcoin, Cash and S&P 500 as reported by Today Gazette, it was revealed that Bitcoin + Cash, as an asset, is better that S & P 500 based on return and risk level in the past 6 years.

Bitcoin is being incessantly compared with other top stocks like Gold, among others. Recently, Veteran trader Peter Bradt stated that with his 45 year trading career, no market can be compared to Bitcoin.

“In my 45-year trading career there has never been another market like Bitcoin”, Bradt stated.

Bitcoin’s maximalists have on several occasions regarded Gold as an asset which cannot level up against BTC in the market owing to the recent performance of the crypto asset.

While we have seen quite a number of top investors of S&P 500 market dropping out earlier, there seems to be traces of their drift into Bitcoin market. Also, there have also been claims that investors of Gold are shoving a share of their investments in the asset into Bitcoin as the market FOMO rises.

Also READ  Analyst Highlights Three Factors to Spike up Bitcoin (BTC) Price and Global Adoption

Bitcoin Attract Silver’s Two Decade Demand

The CEO of Bitfarms, Roy Sebag, in a recent report stated that investors of Silver are migrating into Bitcoin market.

The Israeli-Canadian investor who is also the President of Goldmoney averred that based on a working hypothesis, the drastic drop in Silver’s price for some time now is caused by the emergence of cryptocurrency.

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Sebag said his hypothesis revealed that the demand for Silver in the last two decades has been channeled into Bitcoin and other cryptocurrencies in the market.

“My working hypothesis on what’s wrong with Silver: I believe that the historic speculative demand for silver over the last two decades has been funneled into cryptocurrencies. Silver is often known as the “poor mans gold” because it is easier to buy in smaller increments….”

Even though, he was lampooning Bitcoin and other crypto assets by calling them “poor man’s gold”, the fact is that the Bitcoin has proven itself in the trading market, giving both retail and institutional investors reasons to purge their fund in.

I am a lifetime Entrepreneur, Contributor @Thrive Global, @Oracle Times, @Coin Gape. Khalid Lawal is a lover of Blockchain technology and a junior analyst. • Hopes to be a venture capitalist one day. 

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