Dogecoin Co‑founder Attributes Crypto Sell‑Off to Gold & Silver Rally
Billy Markus (Shibetoshi Nakamoto), co‑founder of Dogecoin, commented on the recent crypto market decline as precious metals—gold and silver—soared to record highs amid geopolitical tensions. Markus posted a meme on X saying he sold crypto to buy gold and silver, echoing his longstanding view that Bitcoin is speculative and can be displaced by rallying assets. Over the prior week Bitcoin fell about 8% from $93,300 to roughly $86,400, briefly recovered to $88,720 before slipping back to around $88,000 at the time of reporting. Investor Robert Kiyosaki also celebrated gold surpassing $5,000 per ounce and predicted a long‑term target of $27,000, reflecting broader bullish sentiment for precious metals. The story highlights a rotation of capital from crypto into gold and silver during market stress, suggesting increased safe‑haven demand and cross‑market liquidity shifts that traders should monitor.
Bearish
The article describes a visible short‑term rotation of capital from crypto into gold and silver, driven by geopolitical uncertainty and rising precious‑metal prices. Markus’s public comments and the notable BTC price decline (≈8% within a week) signal reduced risk appetite among some investors. Historically, sharp rallies in safe‑haven assets (gold/silver) coincide with risk‑asset pullbacks — for example, during market stress in 2020 and 2022 bitcoin and altcoins underperformed while gold strengthened. Short term, this tends to increase selling pressure on crypto as traders reallocate to perceived safe havens, and volatility typically rises. In the medium to long term, effects can be neutral to mixed: if macro risk persists, sustained flows into gold/silver could restrain crypto upside; if confidence returns or BTC reasserts its narrative (e.g., ETF flows, on‑chain demand), crypto could recover. Traders should watch inflows into precious‑metal products, BTC spot and futures liquidations, stablecoin supply changes, and macro indicators (USD strength, rates, geopolitical news) to time entries and manage risk.