ANYTHING CAN BE IN CRYPTO
Many times when I need news for Gold I go straight to www.kitco.com
Anything financial about precious metal you can find an affiliation with this
website. A while back I found a debate between Michael Saylor and another guy deep
in Gold. As the hard asset as Gold I am intrigued with the comparison with crypto.
Gold is the tangible asset while crypto is the digital version of it.
While crypto value is promising, Gold has been stagnant lately. Everyday folks should have no business holding Gold. If you are an experience and you know your way around precious metals, this is your cup of tea. Gold itself as a $10 trillion valuation, this is a market that is moving quite well since its inception from time indefinite.
Crypto leading with #btc just shy of 11 years old is pulling slowly $1.7 trillion with some days $129 billion daily volume. You can tell where the action is with everything running through the internet. I found this article about Kitco will have an erc-20 token backed by Gold. The name of it will be KGLD.
I went straight to Kitco looking to verify. Somehow I cannot find anything on the site pertaining to this news. I am guessing if the piece could be an opinion piece by putting everything together. Somehow there is a relation about all companies involved. There could be truth to the matter since this is not the first Gold pegged crypto out there. The name Kitco could give it more trust for folks who wanted gold in a crypto way can approach it.
Other aspect that track me more is the fact Gold needs crypto to remain relevant in the long run. As a stablecoin, gold pegged token can be traded at the same value for gold. That way it is way cheaper to purchase an erc-20 gold pegged than buying an ETF of Gold where you have to pay fees and all. The situation serves its purpose. Some people will favor ETF while others with take the stable coins route.
There are many competition in the crypto market for gold and I betcha more will come when demand skyrocket. Tether Gold, Pax gold and many more are helping people to hold Gold in a crypto manner. This is why crypto has the upper hand. Anything can be transform to crypto to mimic the same aspect of the asset. Before you know it the whole world will have something to do with crypto. I wish during my time on earth I can witness this transformation. Either way value exist where people comes together and protect what they have. Crypto is the best of both world. If Gold is looking for crypto to spread you know crypto is not just here to stay it will take over.
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