The day MicroStrategy first bought BTC was the last day gold was above $2000/oz

kevinrooke.blog

15 points·123six··7 comments

Why does MicroStrategy think they are a 'market maker's just by buying bitcoin 8 months ago? Correlation isn't causation, and I won't accept anything about their bitcoin purchase affecting either the gold or bitcoin price without much more information.

Edit: also the bizzare implication that gold won't see $2k again. We're around $1750 right now.

There is a whole ecosystem of blog posts reading various financial charts like tea leaves and seeing what they want to see.

No idea how this one ended up on Hacker News, though.

We?

what are gold bugs saying right now? the general sentiment as well as the influencers in the space

are they saying that the market will correct and gold price will infact keep up with expanded supply of fiat? if so, do they give any time horizon for that?

are they rationalizing that it was already priced into the gold price?

or has the sentiment gone in favor of it just being a hard asset that they will purchase at any price just to get out of fiat, and dropping the inflation hedge part

Gold bugs are saying what gold bugs have always said. Hyperinflation is coming, you need to buy gold now before it's too late. Pay no attention to current or past prices which are clearly the result of manipulation, the last gasps of a dying system before its collapse. Just keep buying more gold, preferably using this affiliate link.

with a 20% spread from spot prices

Premiums over spot are between 2% and 5%. Nowhere close to 20%

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