downswing in the crypto market, one that saw Bitcoins price fall by more than 40 percent. By Eddie Van Der Walt and Samuel Potter. There are a variety of reasons for the current upheaval in the cryptocurrency market, including the dual threat posed by growing fears of scams and the move toward heavier regulation of cryptos that will surely result. An attraction of bitcoin is the fact that it is not a fiat currency that can be controlled or manipulated by a government. Let Augusta help you make a significant difference in your portfolio as the new year begins! Previous Post, next Post, more Stories, according to multiple reports, governments and institutional asset managers have been stockpiling gold recently. As noted by the Bloomberg piece, online gold coin dealer CoinInvest of Frankfurt, Germany has seen sales jump by 500 percent since bitcoin started on its recent and pronounced descent. The same is true for gold, but it is vastly more stable, and is a tangible asset that one can physically hold.
In the face of both bitcoins wild swings and the mounting concerns about an overheated stock market, its a good time to make sure you have enough gold and silver in your portfolio mix. The firm sold almost 30 kilograms of gold, worth.2 million. Cryptocurrency Crash Sparks Bitcoin's Nouveau Riche sell stuff with bitcoin to Run to Gold. A London gold dealer who accepts bitcoin as payment via a third party reports young clients come to his shop carrying laptops that display their bitcoin holdings, eager to convert the crypto currency into a tangible asset. This is the compelling question asked by Bloomberg in its piece, and they suggest by swapping out of digital gold and into the real thing, some investors may be providing an answer. As London-based gold dealer Ross James told Bloomberg, Goldoffers investors 4,000 years of history as a store of value, and thats looking quite appealing right now. As gold steadily climbed from mid-December through mid-January, bitcoin plunged from 19,000 to 10,000. A hell of a crazy day, is how CoinInvest Director Daniel Marburger described the rush into gold to Bloomberg. Just this: Precious meta. CoinInvests Marburger, citing the advantages common to both cryptos and gold, told Bloomberg each is limited in quantity, easy to trade and you can store them decentralized. With apologies to the legendary television game show To Tell the Truth, the line above refers to discerning investor behavior in the wake of the recent crash of cryptocurrencies.