J.Kyle Bass, founder, and chief investment officer of Hayman Capital Management, a US-based asset management company said Bitcoin expects higher explosive movements than gold and silver.
Assessing the impact of other factors on Bitcoin, Gold, and silver with the push by central banks around the world, Bass said:
“Silver, gold, Bitcoin, etc … at the time when more money is being minted all over the world, they all seem ready to make the explosive moves higher.”
Bass also shared a silver chart from 10 years ago.
Regarding the issue, gold defender Peter Schiff, known for being against Bitcoin, responded to Bass and said his opinion:
“I agree with you about silver and gold. However, there is no break-out chart related to Bitcoin. What are you looking for? The failure of bitcoin to succeed like gold and silver, he warns, will go even further. This is also proof that the technical model will collapse … ”
He admitted he made a mistake by ignoring bitcoin.
In an interview by Bloomberg TV in October 2017, Bass stated that he had not cared much about Bitcoin in the past and that it was a mistake.
“I obviously didn’t understand the depth of the algorithms and the bitcoin technology. I didn’t mind it. However, I have been trying to understand Bitcoin seriously for the past 6 months and think it is a real asset right now. It’s an incredible money-printing situation. There are now more cash dollars in the world than ever before. We’re talking about $100 trillion. When we think about inflation, we see service and product prices rising. ”
2 years later, Bass, who was a guest on the podcast of Anthony Pompliano, co-founder of Morgan Creek Digital Assets, explained that when Bitcoin reached $ 2300, he became interested in it but could not find suitable and advanced detention. services. Bass also said he thinks the total market value of cryptocurrencies will come out at a trillion dollars.
Citigroup analysts: “Gold is coming to a record”
According to Bloomberg’s report, Citigroup analysts think it’s only a matter of time before gold hits and breaks the all-time record:
“Nominal gold prices hit new records in all G-10 and emerging market currencies this year”
Silver came out great
Silver could rise to $ 25 or even $ 30 in the next 6 to 12 months, according to Citigroup’s report on silver.
The following statements on the matter were featured in Bloomberg News:
He said: “Gold has risen 19 percent in the spot market this year, reaching its highest level since 2011. Support packages and people’s search for a safe haven with the pandemic also supported this demand. ”