Thread by @APompliano

There is a higher likelihood that gold goes to $0 than Bitcoin does at this point.

One is growing in value and the other is falling.

Don't get caught on the wrong side of a paradigm shift.

It seems people are misunderstanding what I'm saying here.

I'm not saying gold is going to $0, but if you have to pick between gold or bitcoin — gold has a higher probability of going to $0 at this point.

Probabilistic conversation much more interesting than the binary one.

Additionally, many people believe the non-monetary value of gold is important. They forget to mention that gold jewelry demand peaked in 2013 and has been falling since.

Non-monetary value dropping quickly among younger generations.

Young people would rather have digital skins and other digital products to show off wealth and status than gold rings or necklaces.

It is unlikely that either gold or bitcoin goes to zero, but the probability of it happening to gold is much higher IMO.

Lastly, central banks have become net sellers of gold for the 1st time in nearly a decade. They used to be long only bids, but now they have been net sellers multiple times in recent months.

The narrative is changing. Tailwind is gold goes down over the next decade. We'll see :)

Also, @lexpaval pointed out gold for tech sector is less than 8%.

If jewelry demand is falling, central bank demand is falling, and so is investment demand, then we are likely already watching early signs of gold collapse. Will take years, but underway.

https://twitter.com/lexpaval/status/1372550374419234823?s=20