Frank Holmes: GOLD - If You're Not Long, You Will Be Wrong

By frank holmes / January 11, 2018 / www.youtube.com / Article Link


To subscribe to our newsletter and get notified of new shows, please visit http://palisaderadio.comFrank discusses gold and Hive Blockchain a company where he is chairman. They have partnered with Genesis. Hive is a cryptocurrency mining and investing company. He became interested in the space when found out that the CEO of Fidelity a company with two trillion in funds has been discussing bitcoin. He says, "Something big is happening." Hive made far more than they anticipated in the first quarter of operations. They raised 175 million, and they expect to do 300 million in revenue this year. It makes sense to utilize cheap electricity wherever it is available to mine bitcoin.Several companies have invested in Coinbase the cryptocurrency exchange, and they now have a valuation of nearly 1.3 billion and 13 million customers. This is amazing growth.He feels gold did spectacularly well last year and it has been an incredible asset play. What has been disruptive is the amount of money flowing into ETF's, this caused concentration and these ETF's were required to dump many stocks. This hurt the junior space, and it still hasn't recovered.Inflation doesn't appear to be correctly calculated and indeed, most companies recognize this fact. He recommends a book called the "Wisdom of Crowds." Gold and interest rates are rising, but they are not fast enough to deal with inflation.The mining supply side has been restricted by environmental rules, and we now have a twenty-year cycle from discovery to production. Quality gold and copper stocks are going to trade upwards. With gold, If your not long you will be wrong.Frank discusses Metcalfe's law and how it applies to bitcoin.

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