Hedge fund billionaire John Paulson, a 65-year old business news pundit, was interviewed Sunday morning, on “Bloomberg Wealth with David Rubenstein.” Paulson, made a name and financial killing for himself in 2008, when he shorted the housing bubble. He announced his concern to Rubenstein regarding the future of most all cryptocurrencies. Specifically, he said that he would not recommend them as a long term investment vehicle, due to his belief that they are destined to “eventually prove to be worthless.”
Paulson went on to explain that, “I would describe them as a limited supply of nothing.””So to the extent there’s more demand than the limited supply, the price would go up. But to the extent the demand falls, then the price would go down. There’s no intrinsic value to any of the cryptocurrencies except that there’s a limited amount.” He expressed further concerns that up to this point, Bitcoin, Ethereum and other digital currencies have been left largely unregulated by nearly all major governments.
Particularly in light of recent developments, Paulson feels much more secure about the investment potential for gold and other precious metals, in both the near and distant future, in spite of the fact that digital assets have surged rather dramatically over the past couple of years. But he feels the polish has worn off the cryptos and the bare bones lack of intrinsic value is beginning to set in, which will ultimately culminate in the death of a truly valueless investment. As inflation, dollar devaluation and other economic factors begin to wreak greater havoc, the long term luster of gold, silver, and other precious metals should return in rather short order.
American Bullion agrees with Paulson’s long term precious metals vision and it’s one of many reasons that American Bullion became a pioneer of the Gold IRA industry, more than ten years ago. As the country ends its longest conflict, prepares to recover from the coronavirus pandemic and prepares to spend a tremendous amount of newly printed money on necessary infrastructure, viable investment options will shrink dramatically.
Call the experts at American Bullion, at (800) 531-6625 or (800) Gold-IRA (465-3472), to learn how to invest in gold and silver to protect and secure your financial future.