When the gold market is too rich for your blood, you may wish to think about silver or Bitcoin, based on Robert Kiyosaki, author of the bestselling book “Rich Dad Poor Dad.”
Kiyosaki’s remarks on Twitter were an answer to an interview which Dennis Gartman, a renowned gold-loving investor, gave to Bloomberg earlier today. Gartman informed Bloomberg he had been “socially distancing” himself in the precious metal since he believed that the market was too cramped.
“Too many individuals all of a sudden are included in the gold market,” he explained. “There is just 1 place everyone has and that is extended […] individuals must be removed from that commerce,” Gartman said, adding he may get excited about golden if it dropped as low as $1,775.
Gartman’s about-face comes only three months later he explained that currently has been “that opportunity to buy gold.” Maybe his words were too true: Trading volume as well as also the price of gold have been climbing, and dealers are swapping their futures for physical gold in a frantic rate, raising fears of a possible market imbalance.
However, if gold can not rescue us from the present financial crisis, then what could? Kiyosaki provided some alternative hedging alternatives:
“Silver [is] still about $25 Oz. $50 next? Everybody can manage [that]. When you have cash, Bitcoin is shifting upward. I’m from golden [and] loading on Silver and Bitcoin,” he tweeted.
Famous gold insect (and Bitcoin skeptic) Peter Schiff chimed in reaction to Kiyosaki by suggesting that Gartman “was never really in gold.” Investors should, instead, sell their Bitcoin into “this sucker’s rally,” he tweeted.
Kiyosaki’s recommendation purchase silver in addition to Bitcoin is notable, however, given recent reports which silver dealers are more interested in collecting the metal than speculating prices, which cuts against the grain.
Quite simply, Bitcoin may possess a relative advantage, contemplating the motives that led Gartman to depart the gold industry. An electronic asset with a booming market might be an appealing choice to increase risks.
And as for gold, if investors are finding it hard to exchange and keep the alloy, you can always take action on the blockchain.
The perspectives and opinions expressed by the writer are for informational purposes only and don’t constitute financial, investment, or other information.