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Over the last year Bitcoin price dropped ~10% while gold has near doubled...Why?
47 sats \ 132 boost \ 7 comments \ @Solomonsatoshi 26 Jan bitcoin bitcoinplusplus econ

Why is BTC not holding up while gold appears to be the more fashionable SoV at least over the last 12 months when the strength of SWIFT-USD-UST-petrodollar hegemony has been increasingly questioned?

Thoughts Stackers?

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21 sats \ 2 replies \ @realBitcoinDog 26 Jan

Good always leads Bitcoin

Gold finally doubled

Bitcoin will 10x to $1M

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10 sats \ 1 reply \ @Solomonsatoshi OP 26 Jan

Yes if you look back over the last 10 years Bitcoin has left Gold in the dust.
Its just this recent trend that may be just a short term trend, or is it something more?
Trust in fiat is surely declining...USD/UST are no longer seen as safe.

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21 sats \ 0 replies \ @realBitcoinDog 23h

Yup that’s the overall trend

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21 sats \ 1 reply \ @2053456d48 26 Jan

I think a lot of bitcoiner are spending Bitcoin.

Keep stacking!

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0 sats \ 0 replies \ @Solomonsatoshi OP 26 Jan

Yes I spent some BTC to buy gold late last year as in the short term I see gold going up more while Bitcoin will probably not go up so much. Over the longer term of course BTC has much more upside potential but many people will see gold as safer in these uncertain times of change...

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2 sats \ 0 replies \ @ca 26 Jan

China has been preparing for war, by buying gold. As simple as that.

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0 sats \ 0 replies \ @OT 26 Jan

I hear different excuses like:

  • lot's of Bitcoin OG's are opting for ETF's for estate planning/safety.
  • Bitcoin OG's rotating into AI as it's just getting started.
  • Sovereigns buy gold as that's what they know (Lindy). Bitcoin is still too small a market cap and hasn't been around long enough to establish trust.
  • FUD about quantum computers has spooked institutions with reputations to uphold.

I personally feel like Bitcoin is going to do what it does, which is to surprise you in either direction. Still nothing much has changed. Bitcoin is superior money and gold still has the same issues that haven't been solved (divisibility, expensive to verify etc).

We'll have to wait and see when the US prints trillions.

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