Have a great weekend,
-John Mousseau, Matt McAleer, & Cumberland Advisors

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Readers have seen us previously comment on the developing Bitcoin-crypto phenomenon. And our clients know that we are not investing in crypto today but are watching this carefully. Our clients also know we have a position in a gold-miner ETF. Our email from clients, media, and readers has the Bitcoin versus gold argument and the evolution of crypto at the top of the topic list. There is a lot of buzz.

The buzz is not surprising when a new financial element appears whose price fluctuations can be $1000 in a week. Interest in Bitcoin and crypto in general is expanding at an exponential rate, and the range of opinions for crypto can fill a chasm. At one extreme is the "tulip mania" assessment of crypto. We discussed it last month. See: http://www.cumber.com/tulip-fever/. On the other extreme are forecasts that crypto will replace gold as a reserve and that the ultimate Bitcoin token price level may reach $50,000. We are highly skeptical but realize that our skepticism may be a product of age and experience. Maybe we are guilty of a Luddite mentality.

We are also watching the development of the gold-backed-crypto alternative. We think that is a significant direction that blockchain transactions will take. We wrote about that recently. See http://www.cumber.com/bitcoin-gold-money/.

A perceptive reader asked about the relationship between President Trump's activities and the gold price. This question was posed in the context of the developing global crypto-gold nexus that we are seeing with the introduction of the Sharia-approved, gold-backed cryptocurrency. The reader struck a chord.

Continued: https://www.cumber.com/market-commentary/bitcoin-gold-presidents-approval-ratings

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