Gold prices are yellow, trading at $1,755 and trending green at the time of writing. Bitcoin price is above $42,000. Lawrence Lepard, general partner of Equity Management Associates, made key predictions for gold, Bitcoin and cryptocurrencies. Lawrence Lepard said that some “hard money” assets are currently undervalued and it’s too late to make a big comeback.
Lawrence Lepard: The day the gold price exceeds $2,000, the stocks will tumble!
Lawrence Lepard, general partner of Equity Management Associates, stated that mining stocks in particular were greatly undervalued. In fact, analisdollarser does not use the valuation of mining stocks, using $1,800 per ounce for gold prices. According to Lawrence Lepard, $1,650 is the norm for discounted cash flow models.
Lawrence Lepard said the day gold hits $2,000 an ounce again is the time these mining stocks will “return with vengeance.” The VanEck Vectors Gold Miners ETF (GDX) is down 20% to date, while gold is down 9% over the same period. 5 depreciated. According to Lawrence Lepard, hard money includes gold, mining stocks, silver, oil and Bitcoin. Lawrence Lepard comments on the subject as follows:
I am a big proponent of Bitcoin (BTC) and unfortunately many people in the gold business do not take the time to understand and study Bitcoin. But they should do it.
Lawrence Lepard: It’s probably even tougher than gold as a form of money
Famous executive Lawrence Lepard added that investors should weed out illegitimate altcoins and be mindful of pumps and dumps. Lawrence Lepard comments on the subject as follows:
You have to look at the core that is Bitcoin, the underlying cryptocurrencies and understand what it is technologically. What I will say is that this is an incredible innovation, because if you think about what money is, money is nothing more than a notebook. Before we had gold or money or anything else, we sat in caves and kept score… Money is just a way of keeping track of who owed what to whom. If you can create an immutable and infallible digital ledger, it is probably even more robust than gold as a form of money.