Jeff Berwick: It’s Time to Rotate Crypto Gains Into Forgotten Gold Stocks
Jeff has been surprised by just how good the crypto space has done this year. He was telling everyone to buy bitcoin back in 2011 and has continued to recommend it. Jeff compares cryptocurrencies to the beginning of the Internet. It feels like we are entering the Internet 3.0 and Wall Street seems to be finally catching on. The bitcoin market is still tiny, and if it ever gets valued anywhere near gold, it will still go up thousands of percent. The entire thing is bizarre and mind-blowing.
He didn’t expect his bitcoin price target to more than double this year nor did he expect alt-coins to do so well. The space is volatile, and crashes are to be expected, but overall he is still quite bullish.
It’s tough to tell where we are at but very few people seem to own any bitcoin. Some individuals seem to be piling in, but when you look at valuations, they are still low quite at around 220 billion dollars. This is far less than the valuations for Facebook or Apple.
Just like most gold bugs he also wants to get rid of central banks and fiat currencies. Cryptocurrencies are exciting as they have the potential to help facilitate that change. If we can turn things around the world will be a much better place.
Jeff has always recommended that people have much of their money in gold and silver. It’s still an excellent hedge. He is becoming more interested in investing some crypto profits into gold stocks. They discuss how Mexican Gold Corp. is an exciting junior company and how they have recommended it recently.
Talking Points From This Weeks Episode
• Surprised at how well cryptocurrencies have done this year up 1000%.
• Crypto will remain volatile, but valuations are still low compared to stocks and gold.
• Recommends holding money in gold and silver.
• Interested in private placements with the junior mining companies.
Jeff Berwick is an Anarcho-Capitalist, libertarian, and freedom fighter against mankind’s two most significant enemies, the State and the Central Banks. He is the founder of The Dollar Vigilante, CEO of TDV Media & Services and host of the popular video podcast, Anarchast. Jeff is a prominent speaker at many of the world’s freedom, investment and gold conferences including his own, Anarchapulco, as well as regularly in the media including CNBC, Bloomberg and Fox Business. Jeff’s background in the financial markets dates back to his founding of Canada’s largest financial website, Stockhouse.com, in 1994. In the late ‘90s, the company expanded worldwide into eight different countries and had 250 employees and a market capitalization of USD 240 million at the peak of the “tech bubble.” To this day more than a million investors use Stockhouse.com for investment information every month. He has since started numerous businesses including TDV Offshore, and TDV Wealth Management.