18:05 GMT +315 October 2018
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    Double Down

    Bitcoin's Terracotta Army

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    Max Keiser, Stacy Herbert
    130

    On today’s episode of Double Down, Max Keiser and Stacy Herbert are joined by Craig Hemke of the TF Metals Report to discuss investors dumping gold to buy bitcoin.

    Reports from the financial news say that investors are dumping gold to buy bitcoin, so Double Down talks to Craig Hemke of the TF Metals Report to find out why. Hemke says that, while he is not selling his gold, he can't blame other gold investors for swapping for bitcoin as the latter surges. Other than the opportunity costs, what reason is there for gold investors to go long bitcoin? Hemke says there is no way to destroy cryptocurrency because if you smash one, ten emerge like a terracotta army.  Finally, Hemke tells Double Down that there are some signs of capitulation in the gold markets and there may be a ‘blood on the streets' opportunity to buy soon.

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    Tags:
    precious metal, Gold, cryptocurrency, markets, Bitcoin, investors
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