“So far this year, gold (GLD) has fallen 23% relative to the U.S. dollar (UUP), while bitcoin has risen 4,600%. This is quite the precipitous contrast. Perhaps this is just coincidental. Gold, after all, has always been volatile and subject to multiyear cycles relating to many factors including demand, inflation, the economic cycle and investor perceptions of global political stability. And maybe bitcoin is just a speculative bubble marked by illiquid parabolic lunacy. As more fast money piles in, the higher it goes, with the price flying above $600 Monday. Though some might argue, of course, that this is what things look like when the world moves away from old physical money to new electronic money.”
Related posts:
Facebook paid small tax bill on big profits made outside US, figures show
Show me the money: Hong Kong in "biggest ever" Bitcoin giveaway
IRS ramps up audits of taxpayers in Israel
Homeland Security mass US citizen face-scanning program rolled out in Orlando
Oil Nations Put Out Welcome Mat for Western Companies
Italy’s Beppe Grillo Pushes For Euro Referendum
FBI repeatedly overstated encryption threat figures to Congress, public
Obama Secret Syria Order Authorizes Support For Rebels
From Space Travel to Pizza, Your Bitcoin Goes Far These Days
How Mapping Student Debt Changes the Debate
Fidelity halts bitcoin investments from IRAs
Investment firm VanEck calls bitcoin a 'fad,' then files for bitcoin ETF
Indian government now snooping on SMSs, online chats
IRS To Extract $207 Billion From Small Businesses By Enforcing Obamacare
China's biggest jeweller sees gold in the masses