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market frenzy: Clubhouse Media (CMGR) & Bitcoin

 So yesterday Elon Musk invited Putin to a conversation on Clubhouse (new version of WhatsApp) which feels like an "early" Gmail where you needed an invitation!  The market impact was that UNRElATED company Clubhouse Media saw its share price spike 12x its morning opening...

Bitcoin hit $51,000!  At this stage there is no reason to think that Bitcoin could go to $300,000 or $50 there is no reason for the crypto to rise (or fall), Bitcoin is not a tool of exchange (or payment) its a speculative instrument.  You can chart the price, see the demand but there are NO FUNDAMENTALS (granted there are no fundamentals for Gold or Silver either).

In fact, gold and Bitcoin share many aspects in common.  Gold is a store of value (it has been relatively stable around $1,800 per ounce), cryptos have been on a massive tear.  Neither are really used in exchange since gold is "complicated" and has never really been used that way.  Apparently, the majority of the world's gold is tied now in gold ETFs.

What gold always was is an uncorrelated asset.  (still is today), cryptos I just don't know.  There is an argument that cryptos are just like gold in many aspects (one massive advantage over gold -- it's almost impossible to fake).



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