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hi guys welcome to on this channel we cover the crypto news and we interview many of the people who are building and investing in the asset class today I wrapped up my interview with Max Keiser that interview will be published tomorrow so go ahead and hit that subscribe button as well as the thumbs up button guys some very negative news around gold here here's the headline gold versus Bitcoin 2.8 billion dollars fake bullion scam highlights bitcoins benefits a huge corruption scandal involving Chinese loans backed by fake gold is pressuring its supporters to defend it against unforgeable Bitcoin so we all know bitcoin is on the blockchain you can't duplicate it you can't try to forge something here and make up a fake Bitcoin sure there's been Forks of the Bitcoin blockchain but the network is so open and transparent and decentralized that you are able to readily and easily identify something that's fake with gold it's not that easy to do that you can make up a go fake gold bars right people have taken lead steal copper and they just gold plate it and they sell it as a full gold bar and it's not so that is an issue and it is a argument in this on the side of Bitcoin that you look it's all in the blockchain and bitcoin is a better store of value it's gold 2.0 now I'm not anti gold I hold goal in my portfolio and I know many people who do so this is not an anti gold but it's a matter of saying Bitcoin is a better store of value right gold 2.0 let me give you some more details here the Bitcoin versus gold debate rages this week as reports reveal fake bars fueled a 2.8 billion dollars corruption scheme as Chinese media outlet Kaizen reported on June 29 via Nikkei a loans deal between Chinese financial institutions and Wuhan King gold jewelry with gold as collateral fell apart when it became known that the gold was gilded copper that is not good guys they also go on to say here that potentially there's tainted gold bank gold bars and gold reserves in central banks so if this all this information that there was a full odd of gold bars I think we would see the price of gold drop a bit right because there's a lot of fake it's it's not as much as the circulation as they expect so like I said for Bitcoin supporters Gold's authentication problems form a major argument against investing or holding the precious metal now I still think people are gonna hold goal ISIL hold gold because you diversify right to reduce the risk now however Mr Gold Bug himself Peter Schiff constantly tweeting about you know bitcoin is crap it's a scam bla bla bla gold is better he of course is silent on the issue you go to his Twitter profile crickets but of course there's tweets you know bashing Bitcoin so he's a hypocrite he's a clown and he's constantly I think it shows his weakness he's constantly tweeting about Bitcoin and so it's like if gold is what it is why would it be afraid of big of Bitcoin right but he is definitely afraid that that money's gonna shift from gold into Bitcoin and crypto so that's why he's like really you know so loud about it right if you don't feel threatened by something you ignore it but if you do feel threatened right you're very proactive in trying to change the narrative and this news is not good it's once again it gives the more of an argument towards Bitcoin than gold so let's see what comes out of it there's probably more fake stuff and they mentioned in the central bank's more fake gold bars and we'll have to see what type of accountability comes to this because there are companies looking to tokenize gold by putting it on the blockchain and I think if they do that you'll get a lot of fake more fake gold bars and bullion exposed so we'll have to wait and see another article here institutionalized crypto big for analytics tools may lure in traditional investors big four firms introduced data analytics tools to help manage crypto and digital assets for institutional clients so we've talked about it on this channel essentially you have all of these big institutional players coming in like fidelity and so forth and guess what they're gonna want you know essentially the same setup they in the traditional markets and that's data analytics auditing security accounting all of that and that means the other traditional firms like KPMG and many Ernst Ernst & Young are gonna start coming into the market guys so it further validates the crypto market in the asset class so let me give you some details once dominated by young and savvy retail investors the crypto currency market has seen increasing interest lately from institutional investors and large FinTech firms for instance great scale investments most recently added nineteen thousand eight hundred and seventy nine Bitcoin to its Bitcoin trust bringing the firm's total volume of the predominant cryptocurrency close to a whopping four hundred thousand guys four hundred thousand Bitcoin talk about a a bag a portfolio there now in order to manage all of that right and for all their clients and so forth what do you need big data auditing tools who provides that you're just did those big big four accounting firms which serve as the traditional markets but now they're gonna serve the crypto market guys this is big the investment firm further tweeted in a excuse me noted in a tweet on June 25th that it is managing 4.1 billion dollars worth of digital assets it's also worth noting that leading payment provider PayPal may soon be incorporating cryptocurrency options while some individuals in the crypto community you may cringe at the thought recent findings from big firm a big for firm KPMG explained that institutionalization is needed now more than ever in order for cryptocurrencies to meet their full potential I agree with that they're gonna build and take it to the next level and market it to the mainstream a KPMG document title listen to this guy's crypto currencies are here to stay so bullish and this is from KPMG nothing to do with investments or crypto guys existed before the market here's here's a quote institutionalization is is the at scale part of participation in the market by small and large entities within the global financial ecosystem including banks broker dealers exchanges payment providers fintechs and service providers they're gonna provide the service needed guys there's demand and you know the supply is gonna come and the service is gonna come from these big for auditing firms and more folks are gonna get in it's just a matter of time before Google and Amazon and all these people get in we're seeing them coming one-by-one capitulation is happening and those who have been silent are making their moves and you know the biggest 180 and capitulation I think was JPMorgan just recently we found out they are going to be offering banking services that coin based in Gemini they release a report saying bitcoin has longevity it has staying power because it survived the March market crash this is a complete 180 from what their CEO Jamie Dimon said that bitcoin is a fraud if you lose your money it's a scam big time turnaround guys so a future of the market is very bright and the institutional players are getting in we got to wade through the cycles and we will see higher prices and the market will continue to grow guys what do you think about this news especially the fake gold and mr.
Peter Schiff very silent about it so showing his hypocrisy and I would love to hear your thoughts and comments leave them below thumbs up please subscribe and I'll talk to you all
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