Gold and Bitcoin will be safe havens of value, according to Max Keizer

Max Keizer, a journalist, filmmaker and former stockbroker from the United States, assures that the global panic generated by the COVID-19 pandemic is generating an increase in the demand for gold and foresees that those who cannot buy gold to shelter their savings will be forced to buy Bitcoin.

 Gold and Bitcoin will be safe havens of value, according to Max Keizer

Bitcoin: time to shine

Max Keizer, a journalist, filmmaker and former stockbroker from the United States, assures that the global panic generated by the COVID-19 pandemic is generating an increase in the demand for gold and foresees that those who cannot buy gold to shelter their savings will be forced to buy Bitcoin. These statements were issued in the March 31 issue of its Keizer Report news program. In Keizer's verbatim words: "I predict (and this is not just the latest use case, but the latest irony) that once people realize they can't get gold, they will start pouring into Bitcoin."

So far, no market has been able to withstand the crisis caused by the COVID-19 pandemic, except for those related to the digital entertainment industry. However, we can affirm that, in general, all the markets have been affected by the panic. The price of gold and Bitcoin have been no stranger to it and have seen setbacks in their prices of magnitudes that can be considered "important". However, several analysts agree in affirming that, as the panic disappears, the investors that possess cash will begin to look for assets where to shelter their savings. In this line of thought, we can see that both gold and Bitcoin could benefit from the qualities they present in terms of safe haven assets.

The problem with gold (and it is for this reason that Keizer claims that "gold is for the wealthy") is the risk and cost of moving it, especially in those cases where borders must be crossed. In addition, the investor must trust a third party to store it, which generates an additional cost. Instead, the acquisition and transfer of Bitcoin is completely safe, fast and with very low costs for the investor. It is for this reason that most analysts believe that Bitcoin will shine when the gold supply collapses. Keizer Report co-host Stacey Herbert says: "We could face a serious crisis in the gold markets as well as in the toilet paper markets."