- The Coronavirus pandemic is causing physical gold availability to drastically shrink, possibly driving people to buy Bitcoin
Amid the Coronavirus pandemic, which has caused a worldwide economic crash, investors have been flocking into gold as a safe haven asset, and specifically physical gold. However, according to Max Keiser, gold availability is going to run out just like toilet paper supplies ran out at points during the past few weeks, and investors will turn to Bitcoin for their save haven needs at that point.
The Coronavirus Pandemic is causing physical gold to run out for several reasons. First off, investors have been hoarding physical gold as fast as possible. Beyond that, transportation is severely limited worldwide, and therefore it has become very difficult and slow to ship physical gold. Also, gold miners and gold refiners are shutting down due to quarantine orders.
On the other hand, Bitcoin is available all the time, never runs out, and can be purchased instantly. Therefore, it is quite logical that as physical gold runs out, investors looking for a safe haven will turn to Bitcoin instead. Indeed, this may partially explain Bitcoin’s 80% rally over the past several weeks.
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