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Battaglia says gold, silver and bitcoin have “guaranteed survival” in the coming crisis.

The current macroeconomic landscape makes it more likely that money will be “seized” in banks, while assets like bitcoin can store value, the analyst explained. Gold, silver and Bitcoin (BTC) have fallen slightly over the past week after posting gains in 2023.

However, market experts like David Battaglia believe they will grow in the long run and are necessary to protect against the growing banking crisis. In Battaglia’s case, if you keep your money in the bank, you are committing the crime of “poor money management” and risk losing everything. Because? It is because he believes that “the global banking and financial system is collapsing” and “insolvent”, which may lead to the “confiscation” of accounts. Battaglia warned that “banks are collapsing like dominoes.”

He explained that the most recent example of this is the Central Bank of Argentina, which has almost run out of dollars. And he mentioned that a few weeks ago companies from more stable countries also showed solvency. Among them, he noted that Credit Suisse in Switzerland was sold due to the risk of bankruptcy and three American banks had to close.

According to the expert, there is a “high risk of contagion” related to this insolvency crisis in the banking industry. He added that there is a regulatory risk, because “we do not know if in the midst of this chaos (…) the politicians in office can change the regulations and confiscate the deposit of money or not” or even the non-payment of assets. as bonuses.

According to him, this is why bond investors now invest for a very short period of time, for example, for a month. “It usually happens when banks don’t trust each other, they don’t want to lend money,” he explains. Given this macro situation, he explained that the prices of risk assets such as stocks, gold, silver and bitcoin could fall in the short term.

Distéfano, B. (2023). Gold, silver and bitcoin “guarantee survival” in the coming crisis, he assures

Battaglia. CriptoNoticias – Bitcoin, Ethereum And Cryptocurrency News. https://www.criptonoticias.com/mercados/oro-plata-bitcoin-garantizan-supervivencia-crisis-avecina-asegura-battaglia/

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