Tensions continue to rise in Eastern Europe after Russian President Vladimir Putin said he would give a “strong response” to the West if sanctions continue. According to Frank Holmes, CEO of US global investors, gold has historically performed well during political crises and the price of gold may rise up to 50% more than current levels.
Frank Holmes: Gold could easily go to $2,500 or $3,000
Frank Holmes, CEO of global investors from the USA, states in an interview that it is not an event for gold to rise or fall by 20% in a year, and explains it as follows:
Two years ago, it went up two standard deviations for the first nine months, so it would do that again, then it could go to $2,800. That would be about two standard deviations, and that wouldn’t be extraordinary. There are three standard deviations for twelve months.
“I think gold is undervalued,” said the famous CEO, pointing to incredible levels for the precious metal:
If you use QE data, I think it’s probably worth over $4,000. Then you’re talking about $7,000 or more. I feel comfortable that gold could easily go up to $2,500 or $3,000.
“Gold has historical significance, Bitcoin is a new phenomenon”
cryptocoin.com As we reported, Bitcoin (BTC) did not react positively to the rising geopolitical tensions in Ukraine. With the invasion of Russia, it decreased to 34,000 dollars. Frank Holmes comments:
When you look underneath, its breath and depth, its historical significance as a wonderful being, really comes into play when you have a war. Bitcoin is a new phenomenon. It’s over ten years old. The ecosystem in the world is new. Yes, it is widely adopted, especially by X, Y and Z generations and millennials, but gold has extraordinary historical significance, making it the asset class of choice whenever there is major inflation or political turmoil.
The famous CEO states that wars and geopolitical tensions in the past have provided tailwinds for gold, and Bitcoin must first overcome its regulatory challenges:
The historically valuable asset was gold, so I’d stick with that. I think as more rules and regulations come into the ecosystem, Bitcoin will take its next step.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.