{"id":54707,"date":"2021-03-03T10:10:42","date_gmt":"2021-03-03T14:10:42","guid":{"rendered":"http:\/\/stateofthenation.co\/?p=54707"},"modified":"2021-03-03T10:10:42","modified_gmt":"2021-03-03T14:10:42","slug":"operation-bitcoin-nothing-but-a-global-psyop-to-collapse-gold-and-silver-forever","status":"publish","type":"post","link":"http:\/\/stateofthenation.co\/?p=54707","title":{"rendered":"OPERATION BITCOIN: Nothing but a Global Psyop to Collapse Gold and Silver—FOREVER!"},"content":{"rendered":"

“Gold Is Dead, Move On” Billionaires Bet On Bitcoin, Draper Sees $5MM Price<\/h1>\n

ZeroHedge.com<\/p>\n

While\u00a0Gary Gensler,<\/a>\u00a0nominated to chair the SEC, was evasive on specifics at yesterday’s Senate Banking Committee hearing, he was far more supportive broadly-speaking than many expected (especially after Yellen’s lies<\/em><\/a>):<\/p>\n

\u201cBitcoin and other\u00a0cryptocurrencies have brought new thinking to financial planning and investor inclusion<\/strong>,\u201d said Gensler.<\/p>\n

\u201cI\u2019d work with fellow commissions both to\u00a0promote the new innovation<\/strong>\u00a0but also, at the core, ensure investor protection. If something were a security, for instance, it comes under security regulation, under the SEC.\u201d<\/p><\/blockquote>\n

That provided some relief for crypto investors, but the last 24 hours have seen a great deal of news.<\/p>\n

<\/div>\n

Bitcoin has rallied above $52k…<\/p>\n

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Source: Bloomberg<\/em><\/p>\n

And Ethereum is back above $1600…<\/p>\n

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Source: Bloomberg<\/em><\/p>\n

<\/div>\n

Billionaire VC Tim Draper also raised Bitcoin’s profile further yesterday in his\u00a0podcast<\/a><\/p>\n

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CoinTelegraph\u00a0<\/a>reports that the famous investor picks\u00a0Netflix among major companies as the most likely to put Bitcoin on its balance sheet.<\/strong><\/p>\n

“I think Reed Hastings is a very innovative guy and has a lot of creative thinking and I think he still controls the reins at Netflix and so I think that might be the next big one to fall.”<\/p><\/blockquote>\n

Ever the optimist, Draper also considered that Amazon would add a direct Bitcoin payment option in future.<\/p>\n

“Amazon will probably start accepting Bitcoin pretty soon,”<\/strong><\/em>\u00a0he said, noting that consumers have been able to buy products indirectly using cryptocurrency for many years.<\/p><\/blockquote>\n

Draper sees the (fiat) price of crypto soaring…<\/p>\n

\u201cI think bitcoin in 2022 or the beginning of 2023 will hit $250,000,\u201d<\/strong>\u00a0he said at the time, when bitcoin was worth less than $4,000. \u201cI think the reason is that bitcoin will be the currency of choice.\u201d<\/p>\n

\u201cThe current currency holdings in fiat is about $100 trillion and bitcoin\u2018s market cap is just reaching $1 trillion now, so\u00a0there\u2019s no reason it can\u2019t go up 100-fold<\/strong>,\u201d he said.<\/p><\/blockquote>\n

Which would imply a $5,000,000 price for bitcoin.<\/strong><\/p>\n

\u201cIt\u2019s not like it\u2019s going to completely replace the dollar, although I think people are going to laugh when you\u2019re trying to buy things for dollars in the future.\u201d<\/p><\/blockquote>\n

In addition, billionaire Mark Cuban had a Twitter-tirade warning Peter Schiff that gold “will die” as a store of value<\/p>\n

“Let me help Peter. Gold is hyped as much as Crypto. Do we really need gold jewelry? Gold can make you a ring,”<\/strong><\/em>\u00a0one tweet reads.<\/p>\n

“BTC\/Eth are technologies that can make you a banker, allow friction free exchange of value and are extensible into an unlimited range of biz and personal applications.”<\/p><\/blockquote>\n

Continuing, he gave a stark verdict on the future of gold.<\/p>\n

“What we are seeing built w\/crypto today is just proof of concept. As tech continues to get better\/cheaper\/faster there will be new applications and maybe even something that supersedes what we know as crypto today,” a further post says.<\/p>\n

“But Gold won’t ever change. Which is why it will die as a SOV.”<\/strong><\/p><\/blockquote>\n

“Don’t forget, Gold was a SOV built on technology. From picks and shovels to mining operations that keep trying to improve. Whoever could use the tech of the day to find and mine the most efficiently was the most rewarded. Much like Crypto is today,” a final message to Schiff concludes.<\/p>\n

“Gold is dead Peter. Move on.”<\/strong><\/p><\/blockquote>\n

Cuban’s ‘Shark Tank’ colleague\u00a0Kevin O’Leary has ‘come to the dark side’\u00a0<\/a>as he said yesterday that he would be allocating 3% of his portfolio to Bitcoin (BTC) and looking into investing in sustainable crypto mining<\/p>\n

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With regard mainstream adoption,\u00a0Coinivore reports<\/a>\u00a0that browser-based\u00a0Google Finance<\/a>\u00a0slyly listed a \u201ccrypto\u201d tab among its offerings this week<\/strong>.<\/p>\n

The facing page appears as usual, allowing user customization, including market comparisons by country, a basket of currencies tab, and now a \u201ccrypto\u201d tab.<\/p>\n

It\u2019s quite a subtle form of capitulation for Google.<\/strong><\/p>\n

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The online behemoth has had a love\/hate relationship with cryptocurrencies for years<\/strong>. It was only two or so years ago, for example, Scott Spencer, Vice President of Product Management, Ads Privacy and Safety at Google rocked markets by acknowledging an\u00a0effective ban<\/a>\u00a0on advertising related to cryptocurrencies, lumping the ecosystem in with scams and dangers to online surfers.<\/p>\n

Months later it would\u00a0purge crypto content<\/a>\u00a0from its YouTube platform.<\/strong>\u00a0It would insist the scrubbing came as a result of an error, but such \u201cerrors\u201d\u00a0continue<\/a>\u00a0into the present day.<\/p>\n

Subsequent messaging from the company about a ban of crypto was muddled, contradictory, and often confusing.<\/p>\n

In the background, however, Google appeared to have other intentions in mind.<\/p><\/blockquote>\n

 <\/p>\n

Finally, we note that Bitcoin continues to broadly track its stock-to-flow model expectations, signaling $100,000 by year-end, and $1,000,000 by the end of 2025…<\/p>\n

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Source<\/em><\/a><\/p>\n

And that appears to be sparking another resurgence in HODLing as\u00a0Decrypt\u00a0<\/a>reports that\u00a0the total amount of Bitcoin on exchanges is falling further, indicating Bitcoiners are accumulating yet again<\/strong>.<\/p>\n

Knowing how much Bitcoin is held on exchanges can tell us a lot about the current state of the Bitcoin market, as well as give us insights into what Bitcoin investors are thinking.\u00a0If Bitcoin is coming off exchanges en masse, it tends to imply that investors are saving their holdings for the long term instead of looking to trade for short-term gains.\u00a0<\/strong><\/p>\n

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Bitcoin balance on exchanges since September 2020. Image: Glassnode<\/em><\/p>\n

\u201cThe data clearly shows an asset that is in high demand and one that appears to have the confidence of traders,\u00a0further implying that resale of the newly acquired Bitcoin is not on the table in the short term,<\/strong>\u201d Jason Deane, Bitcoin analyst at market analysis company Quantum Economics, told\u00a0Decrypt<\/em>.<\/p>\n

___
\nhttps:\/\/www.zerohedge.com\/crypto\/gold-dead-move-billionaires-bet-bitcoin-draper-sees-5mm-price<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

“Gold Is Dead, Move On” Billionaires Bet On Bitcoin, Draper Sees $5MM Price<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-54707","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"http:\/\/stateofthenation.co\/index.php?rest_route=\/wp\/v2\/posts\/54707","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/stateofthenation.co\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/stateofthenation.co\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/stateofthenation.co\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/stateofthenation.co\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=54707"}],"version-history":[{"count":0,"href":"http:\/\/stateofthenation.co\/index.php?rest_route=\/wp\/v2\/posts\/54707\/revisions"}],"wp:attachment":[{"href":"http:\/\/stateofthenation.co\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=54707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/stateofthenation.co\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=54707"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/stateofthenation.co\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=54707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}