Gold is speculated on, but it is a real, tangible asset with both industrial and historical use. Gold's price (and silver moreso) has been artificially suppressed which is why you saw this price soar, but the price can't be allowed to actually catch up to the relative rarity of the material or it would harm the entire financial system. Additionally, price increases correspond to dollar weakness, as one would expect. Bitcoin dumped like 30+% because less than .1% of the supply was sold. These situations are not remotely comparable in the realm of speculation.
20% loss after 200% gain
omg crash
I equally can not comprehend this 'crash'. For Crypto-bros, this is called Tuesday.
The difference between sound money and a speculative asset
But even gold is now speculative, so what’s left that qualifies as “sound money”?
Gold is speculated on, but it is a real, tangible asset with both industrial and historical use. Gold's price (and silver moreso) has been artificially suppressed which is why you saw this price soar, but the price can't be allowed to actually catch up to the relative rarity of the material or it would harm the entire financial system. Additionally, price increases correspond to dollar weakness, as one would expect. Bitcoin dumped like 30+% because less than .1% of the supply was sold. These situations are not remotely comparable in the realm of speculation.