Why Isn't Bitcoin Going Up While Gold & Silver Are Surging? | Anthony Pompliano
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Why is Bitcoin not increasing while gold and silver prices surge?
What's up, everyone? This is Anthony Pompliano. Many of you know me as Pomp. You're listening to the Pomp Podcast, which is my effort to find the most interesting people in the world and sit with them for hours while I ask questions in an effort to learn. So it would mean the world to me if you would subscribe to the show on your favorite audio platform, watch episodes on YouTube, and tell your friends and family about the podcast.
How has Wall Street adoption changed Bitcoin's market structure?
My goal is to help millions learn from the world's most interesting people. So let's get into today's episode.
Anthony Pompliano runs Pomp Investments.
In what ways is Bitcoin considered a hedge against chaos and inflation?
All views of him and the guests on his podcast are solely their opinions and do not reflect the opinions of Pomp Investments. You should not treat any opinion expressed by Pomp or his guests as a specific inducement to make a particular investment or follow a particular strategy but only as an expression of his personal opinion. This podcast is for informational purposes only.
All right, everyone.
What role does AI play in capital competition today?
One of the things I've been thinking a lot about is why is Bitcoin not going up when all of the precious metals are going up?
How do inflation expectations affect Bitcoin's appeal?
It seems like those two assets were very tied together. There was a lot of correlation between them. And the fact that Bitcoin is not going up has got me thinking a lot about what's going on with Bitcoin. What are the market forces? What are all of the macro factors that are playing into this? And so I spent the weekend taking a deep dive and trying to better understand this. I thought I'd come on and try to explain to you exactly what I learned and what my current thoughts are. First, let's go take a look at the actual metals themselves. We have gold, which is up 80% in the last year, silver's up 250%, copper's up 40%, and platinum's up nearly 200% over the last 12 months. At the same exact time, Bitcoin is down 16% over the last year.
So not only are the metals up, they're up significantly, every single one of them. But Bitcoin is down, it's down double digits, and that obviously has people not feeling great. And so we've got to understand what is driving all of the price appreciation in the metals before we can think about Bitcoin. In terms of gold, I think that gold is a safe haven asset. We know that central banks are buying more and more gold hand over fist for their reserves. It makes sense because not only are people dropping dollars and U.S. treasuries, but actually what we're seeing is a defiat. of the global economy. It means that people are saying, look, I'm not gonna sell dollars and I'm gonna go and buy yen or yuan or pesos or anything else.
Instead, what they're saying is I'm gonna sell dollars, I'm gonna buy gold. And so naturally, gold, it's not a completely finite asset, but it's a scarce asset. And so if you have a significant increase in demand for a scarce asset, then gold's gonna go up. But the thing that's interesting is it's not just gold, silver, which I think a lot of people say, well, silver is kind of the little brother of gold, but silver's demand is not only coming from people who want some sort of store value. Obviously, yes, some people buy it because they think that it is a scarce asset as well and it will appreciate. But I actually think that the bigger story for silver is the fact that it's an industrial metal. You need silver to do a lot of different things.
If you start to look at what is going on with silver, well, you start to say how many different pieces of defense equipment or AI hardware, or maybe even things like self-driving cars. There is significant demand for silver because the world is building things again. We are starting to produce stuff both in the United States and internationally. We're saying that we want to re-industrialize the world, and if we're gonna do that, we need to have the raw materials to be able to go ahead and conduct that work, and silver's a big winner there. Now, some of the demand for silver's coming from the store value, and some of it is coming from the actual utility case, but I think that is a huge driver.
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Chapters
6 chapters
1
Why is Bitcoin not increasing while gold and silver prices surge?
0:02–0:24
2
How has Wall Street adoption changed Bitcoin's market structure?
0:24–0:33
3
In what ways is Bitcoin considered a hedge against chaos and inflation?
0:33–0:54
4
What role does AI play in capital competition today?
0:54–1:00
5
How do inflation expectations affect Bitcoin's appeal?
1:00–3:59
6
What factors contribute to the rising demand for precious metals?
3:59–18:38
Speakers
2 identifiedMore from The Pomp Podcast
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