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Those who love gold must feel horribly betrayed, particularly as they look at 
Bitcoin. The same money put into cryptos instead of gold would have yielded millions, if not billions (given enough starting capital) in profits, whereas gold has just withered away like a maple leaf on an autumnal sidewalk. It’s no different for the miners, of course.
The original article by Tim Knight has been edited for length and clarity to provide a fast & easy read. For all the latest – and best – financial articles sign up (in the top right corner) to receive munKNEE.com’s free bi-weekly Market Intelligence Report newsletter (see sample here) or visit our Facebook page.
You could have put money into anything – anything at all – over the past six years and done better than gold [be it] real estate, stocks [even] kitty litter. Gold has been a total piece of garbage, and I’ve got a sneaking suspicion that gold bugs are finally up to “here” with the so-called precious metal and are jumping over to cryptos. Here’s this miserable piece of crap:
GOLD
GDX
The reason I think of these two (gold and bitcoin) together is because the zeitgeist is sort of the same:
- anti-government
- anti-central bank
- safe haven
- contrarian.
Gold has betrayed its zealous following, whereas Bitcoin has made its adherents incredibly rich.