As the crypto concept turns 50, could its market cap rival gold? - Alpha Tactics

Satoshi Nakatomo's Bitcoin white paper appeared in 2008, "but somewhere a futurist/'hard money' enthusiast started to dream of a technological alternative on 8/15/1971 when President Nixon ended U.S. Dollar/Gold convertibility pegged at $35/oz," BTIG says. Julian Emanuel, BTIG's chief equity and derivatives strategist, assessed crypto at 50 in a research note this week. "Nixon’s aim was to 'halt inflation and protect the position of the American Dollar as a pillar of monetary stability around the world,'" Emanuel writes, but inflation soared and stocks were stuck in a rut, the greenback lost a third of its value and gold moved from $35 to $850 per ounce in 1980. "The seeds for Digital Assets - inflation and deficit spending hedge, 'societal' volatility hedge, a new means of transacting, and the blockchain technology as a revolutionary new way of organizing Finance and Business generally - thus planted in the distant past and 'watered'