Bitcoin Is Finally Replacing Gold: The Dollar's Collapse Will Speed Up Everything!
Fundstrat manager Tom Lee has become a hot topic with his statements about Bitcoin and gold.
Fundstrat co-founder Tom Lee participated in CNBC's "Squawk Box" program and stated that Bitcoin has started to replace gold over time. Lee stated that Bitcoin is digital gold and is gradually replacing gold.
Lee stated that the rise in gold shows that there is still great fear in the market and that the yellow metal can be seen as a measure of negative expectations in the markets.
Lee believes that Bitcoin has two functions. On the one hand, it acts as a risky asset, and on the other hand, it provides protection against systematic risks. Lee also emphasized that the dollar may lose value one day and in this case, investors will want to turn to Bitcoin or gold.
He said that the rapid recovery of the markets after the global market crash last year shows how strong this market is.
Lee stated that the possibility of a "soft landing" is increasing and that he thinks this will be positive for the markets. He also said the Fed needs to stop relying on data, otherwise this soft landing could be at risk.
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