As highlighted by Tavi Costa:
The recent surge in gold prices, despite a lack of corresponding growth in assets managed by related ETFs, suggests that central banks' purchases have likely been the primary catalyst for the rally. Although there's been a record pace of metal accumulation, central banks currently hold a much smaller proportion of gold compared to historical levels. Back in the late 1970s and early 1980s, these institutions held around 80% of their balance sheet assets in gold, whereas today it's less than 20%. Will they continue to accumulate gold going forward? If we come back to the historical average (in terms of % of reserves), there is massive pent up demand ahead Source: Tavi Costa, Bloomberg
Trading volume in US Bitcoin ETFs hit YTD highs of $8B as Bitcoin prices are up 59% YTD, after reaching a new all-time high.
The surge follows regulatory approvals for spot-Bitcoin ETFs and comes ahead of the anticipated halving event, reflecting significant shifts in crypto accessibility and investor interest. Source: Bloomberg, Beth Kindling
Radar🚨MicroStrategy MSTR just bought another $821 million Bitcoin
It now HODLs 205,000 $BTC bought for $6.9b MicroStrategy is now $7.7 Billion in profit on its Bitcoin investment. A return of 112% so far as Bitcoin breaks a new all-time high yesterday. 112% gains and still buying...
Don't fall in love with success, fall in love with the habits that bring success
Source: Succeeded Mind
Great visual on Saudi Aramco
By Graphite Asset Advisory / John Haslett, CA(SA), FRM
This chart by Quartr illustrates the brands within 12 of the largest consumer brand conglomerates in the world.
$NESN $PEP $PG $ULVR $KO $MDLZ $BN.PA $KHC $ABF.L $GIS $CL
The US federal government collected $4.47 trillion and spent $6.16 trillion during FY 2023 . . .
Source: Markets & Mayhem
BIDEN BUDGET SEES US DEBT HITTING $45 TRILLION IN A DECADE
Do you think gold and digital gold trading at new all-time-highs is a coincidence? #store of value Source cartoon: hedgeye
