Gold, Silver & Bitcoin – Is The Debasement Trade Over? with Charlie Morris & Dominic Frisby
The monetary metals, gold and silver and so-called digital gold, or Bitcoin, have had an unusual few months.
As recently as September last year, the gold price was $3,500/oz, silver was $40/oz, and a Bitcoin was priced at around $110,000.
Since then Gold rose by over 50% to $5,400 / oz before correcting to $5,000 / oz or up 40%; silver rose nearly 200% to $115 / oz before correcting to $80/oz up 90% and while all this was going on the price of Bitcoin more than halved peak to trough before stabilising down 40% at c $70,000.
So, why the volatility spike? What just happened to the debasement trade? Has the newly nominated Fed Chair changed everything? Is AI or quantum computing about to kill Bitcoin? Is the FT right? Is the Bitcoin price still $70, 000 too high?
To help dig into what we have just experienced, I was joined last week by two friends of the pod and long-term advocates of precious metals and Bitcoin, so-called outside money, to try to better understand the drivers behind these volatile asset prices and how to assess where things might go from here.
Dominic Frisby, of the Flying Frisby Substack, has written books on Bitcoin and gold, and multi-asset manager Charlie Morris of ByteTree is the founder of the BOLD (Bitcoin & Gold) Fund, which recently launched on the London Stock Exchange.
It was a timely discussion in which we tried to dissect the different drivers of these asset prices and what has changed as a result of these dramatic moves.
But of course, none of what you are about to hear is any kind of advice, but just for your information and hopefully entertainment too. You should seek personal financial advice and do your own research before investing a penny in these crazy markets.
And with that said, please enjoy my conversation with Dominic Frisby and Charlie Morris.
Brought to you by Progressive Equity.
This communication is provided for information purposes only, and is not a solicitation or inducement to buy, sell, subscribe, or underwrite securities or units. Investors should seek advice from an Independent Financial Adviser or regulated stockbroker before making any investment decisions. Progressive Equity Research Ltd (“PERL”) does not make investment recommendations.
Opinions contained in this communication represent those of PERL and/or our affiliates at the time of publication and PERL does not undertake to provide updates to any opinions or views expressed. PERL does not hold any positions in the securities mentioned in this communication, however, PERL’s directors, officers, employees, contractors and affiliates may hold a position, and/or may perform services or solicit business from, any of the companies or related securities mentioned.
Any prices quoted in our research are as at the previous day’s close.