While the stock market continues to separate from reality, precious metals and cryptocurrencies have once again proven themselves as safe-haven assets during unstable times.
Bitcoin (BTC) is up +5%, Ethereum (ETH) rose +25%, and Chainlink (LINK) skyrocketed +112% in the month of August. In the last month, gold hit a new all-time high and broke through the $2,000 resistance point for the first time, while the price of silver quietly rose +13%.
Meanwhile, tech stocks are single-handedly propping up the U.S. equities market. Currently, U.S. tech stocks are worth more by market cap than the entire European stock market. The top five U.S. tech companies account for over 20% of the entire S&P 500.
Tesla is trading at 1000 times earnings, Amazon at 126 times, and Netflix at 82 times.
If this doesn’t scream “tech bubble”, I don’t know what does.
As the U.S. dollar continues to decline in value, investors are bullish on precious metals and crypto. Warren Buffet and Ray Dalio, with a combined net worth of over $100 billion, doubled down on their long positions in gold in the month of August.
Currency inflation and a looming stock market correction are about to hit investors hard, and the world’s top money managers are making preparations to protect their wealth. Are you?
Now is the time to diversify with alternative assets. Precious metals and cryptocurrencies such as BTC, ETH, and LINK are excellent diversification tools that will help shield your money when the U.S. equities market inevitably corrects.
Don’t wait. You can get started adding cryptocurrencies and precious metals to your investment portfolio by checking out these top-ranked cryptocurrency IRA companies and precious metals IRA companies today.