Peter Spina: Embrace Bitcoin – When Commodities Move Just Imagine the Potential!
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Peter discusses the cryptocurrency space and how it is similar to the dot.com boom of the late 90’s. No one knows how all of this will play out, but it is all but certain that crypto will play an essential role in world finance. Mr. Spina feels that both gold and cryptocurrencies are complimentary. You should be careful and protect your wealth in precious metals and only speculate in the crypto market. It is a new technology with much potential that creates a much more free and open marketplace.
There is a lot of people trying to make a quick buck in this space particularly with all of the hype and excitement. Most people don’t understand this sector and will get swindled. The ICO market is headed towards billions of dollars invested, and ninety plus percent will undoubtedly fail. You need to look for technology and ideas that you understand that have practical value and function.
Gold stocks have not followed gold higher this year, and recent interest in crypto have taken some of the luster from the gold sector. He is looking to purchase profitable mining company stocks over the next year as commodities, in general, are quite cheap. There is still some technical resistance with gold, and it could be several months before a breakout.
Peter is interested in the uranium space as recent cuts will eventually result in much needed higher uranium prices. Supply contracts are coming up for renewal, and this will be an excellent opportunity to take positions.