Ronald-Peter Stoeferle, Managing Partner of Incrementum AG, recently discussed the changing perception of gold as a safe haven asset in a video with David Lin. They examined the shift of gold from a traditional hedging tool to a higher-risk asset, its correlation with various industries, and its consistency with stocks, tech stocks, and bonds. The growing interest in alternative investments, such as Bitcoin, indicates investors’ increasing appetite for diversification.
Stoeferle commented on the current market sentiment towards gold, noting its inflation-adjusted resilience compared to historical highs. However, he believes that investors are generally skeptical and more likely to sell at current levels rather than buy, reflecting the bearish sentiment in Western markets. Despite the current negativity, Stoeferle remains optimistic about the long-term prospects of gold. He cited the consensus forecast of major Wall Street firms, which predict gold prices to moderately reach $2,026 in 2026 and $2,028 in 2028, surpassing $4,000 to $4,800.
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Gold and Bitcoin
Stoeferle also discussed the initial resistance faced by the Bitcoin and gold communities, describing Bitcoin’s rapid development as that of a teenager compared to gold’s long history. Despite recent disappointments for Bitcoin investors, he emphasized the historically favorable performance of Bitcoin during the post-halving period and expects Bitcoin to outperform gold in the coming years. The increasing institutional acceptance further strengthens this optimism, as evidenced by the launch of ETFs and other milestones.
Stoeferle’s insights reflect different understandings of the market dynamics affecting gold and Bitcoin, highlighting the complex interaction between traditional and emerging safe haven assets. [image]