More Gold, Less Bitcoin! Uganda's Treasure Discovery is the Proof
— Gold —, Introduction, Major gold discoveries, Massive gold ore discovery supplied, Comparison —, Telegram channel, One gold mining trade publication went, Industry proponents might seize upon, Treasure discovery, Advances — 1 min read
If Uganda is sitting on 31 million metric tons of gold ore, might not that substantially boost the world’s gold supply? That in turn could lower the price of gold — and make it a less secure “store of value” generally. Bitcoin has periodically laid claim to being digital gold largely on the strength of its strict 21 million supply limit, which makes it non-inflationary and a good store of value — in theory. But, perhaps there is less here than meets the eye. The World Gold Council was asked for comment about the Uganda discovery and the plausibility of its numbers. The introduction of this much new gold “could have significant negative price implications for gold over the coming years,” says one expert. Source