The Debasement Trade, also known as Sound Money or Hard Asset Trade, is good and truly alive. Bitcoin (BTC), to more than $ 120,000, just a stone’s throw from its highest height of $ 124,000. Meanwhile, gold has almost achieved 50% years to date, which sets fresh record heights almost daily and now trades just under $ 3,900.
Exchange -handled fund streams highlight the enthusiasm behind this trade. Both Blackrocks Ishares Trust (Ibit) and SPDR Gold Etf (GLD) ranked among the 10 most traded ETFs on Thursday, a rare event according to Bloomberg Senior Etf analyst Eric Balchunas.
GLD then $ 4.88 billion in volume, making it the fourth most traded ETF, while Ibit came in seventh with $ 3.21 billion. The top traded ETF was SPDR S&P 500 ETF (SPY) with more than $ 26 billion in volume.
“Everyone wants to go into that debaser -I assume,” Balchunas said.
Comedian and Sound Money Lawyer Dominic Frisby told Coindesk exclusively that both Bitcoin and Gold share a unique property: they cannot be printed by governments.
Frisby: “Bitcoin is within a few percent of all -time heights. Gold is at all -time heights. Silver closure at all -time heights. It’s almost as if people are losing faith in Fiat. Nothing lasts forever, of course. But the big money that is immune to government has their day in the sun.”
Silver has risen along with gold that currently trades just under $ 48, the third highest level behind tops in 2011 and 1980. Interesting, in both of these years Silver’s top with Gold’s. If the story rhymes, this may suggest that when silver finishes its parabolic race, gold can also peak. This scenario can just create the road to even more upward potential for Bitcoin.
