Is Bitcoin Killing Gold?
By GCRU Gold News on Sunday, October 8 2017, 11:42 - Permalink
Bitcoin and all the other cryptocurrencies are gaining traction, that is clearly shown by trading volumes and Google search data.But the traction the cryptocurrencies have gained is NOT killing the physical gold market.
However, I do believe the junior mining executives will have to do a better job of retaining and attracting the speculative dollars available to buy their stock. Now, more so than ever, speculators have access to new or previously forbidden sectors like cryptocurrencies and the 400+ marijuana companies in North America. Weak and struggling junior resource stocks will wither and die at faster rates.
Like it or not, gold executives and gold investors, you have a major new competitor in the form of cryptocurrencies.