In the world of cryptocurrencies, FTX was a giant. That was until November 2022, owing to allegations of mismanagement and dysfunction, its founder Sam Bankman-Fried handed the control over to John J. Ray III, a corporate turnaround specialist.
This is an ideal time to reevaluate gold and silver as important investment options, and here is why.
Provide better investment hedge
Gold and silver are historically well-known for their innate qualities and their abilities to outlive all improvised and new forms of currencies. One of the reasons that helped them garner this reputation is their performances during inflations. Gold and silver are often fail-proof and secure against inflation. You can measure this in terms of value – when the local currently fails, gold and silver typically rise as they become less expensive to buy. This increases their value and it’s a common phenomenon for their value to go up during inflation.
Silver and gold boast enormous market size and are incredibly liquid due to their extensive coverage. In terms of its benefits, experts at GSI Exchange say, “Both occupy a large market space, although there’s a difference in their demand. The demand for gold is often higher than that for silver. For instance, in October 2022, the silver market size was valued at $4.4 trillion while the market size for gold was a whopping $25.4 trillion.” GSI Exchange is a leading coin and precious metal company operating out of Palm Beach County, Florida.
Gold and silver are versatile metals. They have been put to different uses by the human imagination. While silver plays a massive role in powering batteries and computers, gold is often coveted for the fine work it lends to jewelry. Experts at GSI Exchange explains, “this makes them a good investment option all year round, suited for all market conditions.”
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