Gold Hits Record High as Bitcoin Eyes Generational Wealth Boom
• Spot gold prices reached a new all-time high of $2,110 per ounce on Monday before pulling back somewhat. Prices have risen for 2 straight months amid geopolitical tensions and rate cut expectations.
• A cryptography expert predicted Bitcoin could flip gold's market cap within 1-2 years if BTC prices reach $700,000. This could happen as older generations transfer wealth to younger generations.
• The launch of the first gold ETF in 2005 catalyzed an 8-year gold rally without a single down year between 2005-2012. Bitcoin ETFs could have a similar impact.
• $68 trillion in generational wealth transfer represents the greatest such transfer in history. More assets will likely flow into Bitcoin as a result.
• Gold bug Peter Schiff claimed Bitcoin's latest price spike is its "swan song" fueled by a speculative frenzy around spot Bitcoin ETFs.