Gold prices are trading at $1,755 and the trend is in the green at the time of writing. Bitcoin price is above $42,000. Lawrence Lepard, general partner of Equity Management Associates, made key gold, Bitcoin and cryptocurrency predictions. Lawrence Lepard said that some “hard money” assets are currently undervalued and it’s too late for a big comeback.
Lawrence Lepard: The day gold prices exceed $2,000, stocks will explode!
Lawrence Lepard, general partner of Equity Management Associates, noted that mining stocks in particular were greatly undervalued. In fact, analysts do not use the valuation of mining stocks, using $1,800 per ounce for gold prices. According to Lawrence Lepard, $1,650 is the norm for discounted cash flow models.
Lawrence Lepard said the day gold hits $2,000 an ounce again is the time these mining stocks will “return with vengeance.” The VanEck Vectors Gold Miners ETF (GDX) has dropped 20% to date, while gold has tumbled 9.5% over the same period. According to Lawrence Lepard, solid money includes gold, mining stocks, silver, oil and Bitcoin. Lawrence Lepard comments on the subject:
I am a big proponent of Bitcoin (BTC) and unfortunately many people in the gold business do not take the time to understand and study Bitcoin. But they should do it.
Lawrence Lepard: It’s probably even stronger than gold as a form of money
Famous executive Lawrence Lepard added that investors should weed out illegitimate altcoins and beware of pumps and dumps. Lawrence Lepard comments on the subject:
You have to look at the core that is Bitcoin, the underlying cryptocurrencies, and understand what it is technologically. What I will say is that this is an incredible innovation, because if you think about what money is, money is nothing more than a notebook. Before we had gold or money or anything else, we sat in caves and kept score… Money is just a way of keeping track of who owed what to whom. If you can create an immutable and undeceived digital ledger, it is probably even more robust than gold as a form of money.
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