Egyptian Billionaire Remains Bullish on Gold, Says It’s Wrong to Compare Precious Metal to Bitcoin

Egyptian billionaire Naguib Sawiris has said he remains bullish on gold and has no intention to invest in cryptocurrencies like bitcoin because such investment is a very risky business. Sawiris Says Gold Still Safe-Haven Asset In his remarks published by The National News, the billionaire reveals he believes it is wrong for people to make […]

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Poland’s Central Bank Says It Will Add 100 Tons of Gold to Existing Holdings in 2022

The Polish central bank, the National Bank of Poland (NBP), is reportedly planning to raise its gold reserves by 100 tons in 2022. According to bank governor Adam Glapinski, the objective of this decision is to prepare Poland for “the most unfavourable circumstances.” Gold’s Safe Haven Status In his remarks during an interview with the […]

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Microstrategy’s $250 Million Bitcoin Buy Consequential

Microstrategy's $250 Million Bitcoin Buy ConsequentialWhen a publicly owned company decides to invest about $250 million in an asset that was widely attacked more than a decade ago, it says a lot about how the world has changed. The reasons and the timing of Microstrategy’s bitcoin incursion could not have come at a better time for the company’s investors. The […]

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Bitcoin and Gold Correlation Reaches Record High 70%, Bolstering BTC’s Store of Value Credentials

Bitcoin and Gold Correlation Reaches Record High 70%, Bolstering BTC's Store of Value CredentialsThe prices of bitcoin and gold have reached a monthly average correlation of 70%, an all-time-high, according to data analytics firm Skew. The previous peak of just under 60% was reached earlier on in the second quarter of 2020. Skew said the rising correlation supports the idea that bitcoin (BTC) is a store value, particularly […]

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Bitcoin an Option, as Dennis Gartman Says He’s Exiting ‘Crowded’ Gold Market

Bitcoin an Option, as Dennis Gartman Says He's Exiting "Crowded" Gold MarketGold bull Dennis Gartman is moving out of gold because the market has become “too crowded.” In an interview with Bloomberg on Thursday, Gartman said he was “social distancing” from the precious metal until such a time when the price falls to around $1,775. “Too many people all of a sudden are involved in the […]

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Market Update: Coronavirus Fears, Stock Market Crash, and Bitcoin Price Predictions

Market Update: Coronavirus Fears, Stock Market Crash, and Bitcoin Price PredictionsDigital currency markets have been consolidating since the initial price drop on February 26 that saw $25 billion shaved off the entire cryptocurrency market. At the time of publication, the cryptoconomy is hovering just above the $245 billion zone and a few coins today are making slight gains. Also read: MTV Airs Only the Negative […]

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Why a Global Recession Would Be Good for Bitcoin

Macro trends suggest that a global economic crisis could be looming. Worries about a global recession have been fed by the newly published GDP report showing that China grew at its slowest rate last year since 1990. If a global recession were to happen in the future, many believe that cryptocurrencies, bitcoin primarily, would benefit. […]

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