CEO, ByteTree Asset Management

ByteTree Asset Management

Specialising in Bitcoin, Gold and Digital Assets

Investment Manager specialising in bitcoin, gold and digital assets

Cross Asset Strategy

<ul><li>I don’t know who said it first, but I heard it from John Levin around the time of the credit crisis in 2008.</li><li>John is one of the great gold traders who once worked at HSBC but moved home to Sydney and now heads the team at ANZ.</li><li>His life ambition is to trade every single ounce of gold that has ever been mined. I’m not sure where he is with that.</li></ul>

I don’t know who said it first, but I heard it from John Levin around the time of the credit crisis in 2008.John is one of the great gold traders who once worked at HSBC but moved home to Sydney and now heads the team at ANZ.His life ambition is to trade every single ounce of gold that has ever been mined. I’m not sure where he is with that.

<ul><li>UK House prices are back in the news because they have been coming under pressure.</li><li>Unsurprisingly, that has sent the housebuilding stocks downwards, some more than 50%.</li><li>That appears to be a painful correction, given how shallow this fall in house prices has been thus far.</li></ul>

UK House prices are back in the news because they have been coming under pressure.Unsurprisingly, that has sent the housebuilding stocks downwards, some more than 50%.That appears to be a painful correction, given how shallow this fall in house prices has been thus far.

<ul><li>Injective is the first decentralised exchange-focused layer-1 blockchain platform.</li><li>Integrated with the Cosmos ecosystem, it was custom-built to host Decentralised Exchanges (DEXs) that aim to shape the future of crypto trading.</li><li>The platform offers developers a user-friendly environment equipped with plug-and-play financial infrastructure components, facilitating the seamless creation of highly efficient, fast, and cost-effective dApps.</li></ul>

Injective is the first decentralised exchange-focused layer-1 blockchain platform.Integrated with the Cosmos ecosystem, it was custom-built to host Decentralised Exchanges (DEXs) that aim to shape the future of crypto trading.The platform offers developers a user-friendly environment equipped with plug-and-play financial infrastructure components, facilitating the seamless creation of highly efficient, fast, and cost-effective dApps.

Injective Protocol: Unlocking the Potential of Decentralised Trading

Commodities

Gold is a chemical element with the symbol Au (from Latin: aurum) and the atomic number 79. In its purest form, it is a bright, slightly reddish yellow, dense, soft, malleable and ductile metal. Chemically, gold is a transition metal and a group 11 element. It is one of the least reactive chemical elements, and is solid under standard conditions. The metal therefore occurs often in free elemental (native) form, as nuggets or grains, in rocks, in veins and in alluvial deposits. It occurs in a solid solution series with the native element silver (as electrum) and also naturally alloyed with copper and palladium. Less commonly, it occurs in minerals as gold compounds, often with tellurium (gold tellurides).

<ul><li>Finally, we see the beginning of the long-anticipated monetary normalisation in Japan.</li><li>This is the only country in the world to still have negative interest rates, which is odd given inflation has been rising, albeit modestly to Western Economies.</li><li>This ultra-loose policy has seen bond yields remain close to zero while the yen has slumped.</li></ul>

Finally, we see the beginning of the long-anticipated monetary normalisation in Japan.This is the only country in the world to still have negative interest rates, which is odd given inflation has been rising, albeit modestly to Western Economies.This ultra-loose policy has seen bond yields remain close to zero while the yen has slumped.

<ul><li>There can be no doubt that gold has intrinsic value, as it is a rare commodity. But even if it wasn’t rare, like sand or manure, it would still have intrinsic value, just much less than it currently does.</li><li>The question I have been asking is how much of the gold price reflects its intrinsic value, and how much is something else?</li><li>Gold is a monetary asset and, as a result, is valued above and beyond its intrinsic value.</li></ul>

There can be no doubt that gold has intrinsic value, as it is a rare commodity. But even if it wasn’t rare, like sand or manure, it would still have intrinsic value, just much less than it currently does.The question I have been asking is how much of the gold price reflects its intrinsic value, and how much is something else?Gold is a monetary asset and, as a result, is valued above and beyond its intrinsic value.