Alexey_Malorodov

Protective Tools: bitcoin, gold or just cash

Education
BITSTAMP:BTCUSD   Bitcoin
Friends, I want to share my real story that happened yesterday. I definitely don't like all those hypes, because there's nothing stupider than scoring points on an already well-known topic. What's more, I sincerely believe that before you can give advice, you have to be exceptionally good at the subject. So, my twin-brother came to see me yesterday. He's not a stupid man, by the way, and he's the deputy chairman of the bank. Naturally, there was a talk about the coronovirus and how to save our money in the current uncertainty. He was advised at work to move from stocks to securities: gold or bitcoins. When I heard that, I was amazed. I understand that gold and yen have historically been protective tools, but bitcoin... How I feel about that. In an uncertain environment, gold is actually a protective tool. But when there's panic, even gold stops being it. Look at the comparison of the SPY, BTC and gold. At some point gold went above the market, but in crisis conditions it also began to fall. And the main question: why? The answer to my opinion is very simple: when the collapse occurs, everyone wants to be in the cash. I am not even talking about Bitcoin. This crypt currency will not be a protective tool for a long time. I, in general, have my own special attitude to cryptocurrency, which deserves a separate post. I can't hold my thought either: will you be able to easily buy groceries in a store or on the market for crypt currency and "digital" gold, which so far is nothing more than the "numbers" in the broker's account? when the exceptional collapse comes - no gold, no crypt, or anything else but caches will not help to feed the family. Guys, these are just my thoughts that I wanted to share with you.
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