Thursday, April 28, 2022

Do you believe that gold and Bitcoin will benefit the most from the world's current events, such as the Ukraine war, inflation, and economic crisis?

I read this fantastic article that talks about Bitcoin and gold given all the events in the world, the war in Ukraine, inflation, and economic crises on the horizon. I notice that people are looking more and more for security when it comes to investment.

With uncertainty lurking in the second quarter of 2022, safest assets like gold and Bitcoin stand to profit the most. It reminded me of Duet Protocol which recently launched dXAU (gold) and dWTI (oil). Users may buy gold, oil, and bitcoin, which are now available on the platform, and use a single crypto wallet to establish a portfolio that includes both traditional and crypto-assets.

Do you remember that Russia also hinted in March that it would explore accepting Bitcoin for its oil and gas exports and that "unfriendly" countries might be obliged to pay for gas in Russian rubles or gold?

What's fascinating is that Russia isn't the only country that is beginning to think this way. Saudi Arabia has been in active negotiations with China about accepting yuan for part of its oil supplies to Beijing, a move that may put a dent in the US dollar's petroleum supremacy.

Is this a preview of economic changes if the governments begin accepting cryptocurrencies, like bitcoin, as payment? What effect do you think this will have on Bitcoin?

Bitcoin, as an asset class, acts similarly to a growth or technology stock and performs very well in a risk-on market. It remains to be seen if bitcoin will hold and operate as a commodity or store of value in the face of stagflation or a slowing economy.


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