Bitcoin, Gold and Silver Price Comparison in Venezuela Inflation
Inflation in Venezuelan is anything between 6,000 to 10,000% as of today. Economists are claiming inflation could reach 30,000 percent in the future.
Recently, Many Crypto Channels have been publishing Bitcoin price in Venezuelan Bolivar (the local currency) while Gold channels have been talking about Gold price. As of writing this post Bitcoin is 523 million Bolivar. WoW!! Wonderful safe heaven asset and Inflation hedge, isn’t it? Yes, it is for sure.
Therefore, I decided to compare Bitcoin with Gold, Silver and other precious metals. A simple objective look at all the safe heavens – Neck-to-Neck Comparison!! (Also, note this data is taken after Bitcoin has rallied recently, while Gold and Silver are still in the dust after 7 years of suppression.)
I took Bitcoin price of $8,830 on April 22, 2018 at 8:30 pm. Considered worth $8,830 of Gold, Silver, Palladium and Platinum each at the current Kitco spot prices on April 22, 2018 at 8:30 pm (all images given below.)
Here are your results. Isn’t it shocking guys?
Gold beats Bitcoin by 1.3M Bolivar
Silver Beats Bitcoin by 2.5M Bolivar
Platinum Beats Bitcoin by 3.0M Bolivar
Palladium Beats Bitcoin by 4.1M Bolivar
)
Remember, Gold and Silver has been suppressed by Cartel for last 8 years. In fact, everyone hates Gold, Silver so much and still all of them beat Bitcoin in Venezuela. Venezuelans are experiencing Hyperinflation first hand and they are VALUEING Gold and precious metals more than Bitcoin.
Sorry bitcoiners, Venezuelans love PMs more than Bitcoin (at least till today. I don't know about tomorrow.)
For me Silver is the next Bull, people. Gold and all other precious metals will follow Silver. Join my twitter handle to keep updated on Bitcoin, Gold and Silver Bulls @Super_Crypto
What about Bitcoin, you ask? I don’t know yet. If Cartel is suppressing Bitcoin then Gold and Silver bull will leave bitcoin in the dust. Don’t blame me for saying this. Jury is still out there (read my Cartel-Bitcoin suppression post)
I am merely presenting the data, and would leave everything with you. You decide.
This is Bitcoin price on GDax on Apr-22-2018 at 8:30pm
This is Gold price on Kitco on Apr-22-2018 at 8:30 pm
This is Bitcoin price on BitcoinAverage on Apr-22-2018 at 8:30 pm
This is Gold price on GoldBroker on Apr-22-2018 at 8:30 pm
This is Silver price on GoldBroker on Apr-22-2018 at 8:30 pm
This is Palladium price on GoldBroker on Apr-22-2018 at 8:30 pm
This is Platinum price on GoldBroker on Apr-22-2018 at 8:30 pm
Conclusion
What do you say people? Let me translate it for you:
On April 22, 2018, Venezuelans valued Gold and precious metals more than Bitcoin. Imagine what will happen when Gold/Silver suppression ends?
I continue to accumulate Silver at these DAMN cheap prices. This is my ideal portfolio:
IF metals suppression ends. Thats a BIG IF. Not all Venezuleans have access to phones and the internet. And if so, their govt would most likely crack down on their connection to the outside world like in Afghanistan and other tyrannical regimes. Gold and Silver come from the earth and can be mined/panned by the individual in their own back yards. This is why I THINK Venezuelans are valuing metals more than cryptocurrency. Venezuela flourishes in natural resources.
🎁 Dear @crooklyncat,
SteemBet Seed round SPT sale is about to start in 2 days!
When our started the development of SteemBet Dice game, we couldn’t imagine that our game would go so viral and that SteemBet would become one of the pioneers in this field.
In order to give back to our beloved community, we’ll distribute 4000 STEEM to SPT holders immediately after Seed sale. Plus, investors in this earliest round will be given 60% more tokens as reward and overall Return on Investment is estimated at 300%!
Join the whitelist on SteemBet webiste now and start investing! Feel free to ask us anything on Discord https://discord.gg/tNWJEAD