Time To Get Off The Crashing Cryptowagon And Jump On The Goldwagon

Is the $32 billion collapse of the crypto exchange FTX the catalyst for the fall of the financial system? We will soon know but at least the GOLD – CRYPTO debate was settled last week for the ones who believed cryptos represent wealth preservation. I have always argued that cryptos are a binary investment. My view on Bitcoin has for years been that it can go to either $1 million or to Zero. So not a good risk and certainly not an investment for the fainthearted or for widows and orphans. Not that I ever thought Bitcoin is worth $1 million or anything at all for that matter. But manias always go to excesses before they collapse. Again we have learnt that cryptos are a lottery ticket. It can be worth a lot or nothing. What was worth $24 billion a week ago is today worth ZERO, ZILCH, NADA! Read more…

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