Posted on 07/05/2026 3:48:17 AM PDT by dennisw
The latest fear, of course, is that the AI boom is stealing crypto’s thunder. With the blockbuster IPO of SpaceX and the market debuts of Anthropic and OpenAI expected to be worth trillions, cryptocurrencies are no longer the new, bright, shiny things on the market.
It’s hot outside in New York City, but there’s a crypto winter in the markets – and it’s likely to get worse before it gets better, industry players tell On The Money.
To be sure, we’ve seen this before: 2018, 2020, then in 2022, when a confluence of factors including the FTX scandal that landed Sam Bankman-Fried in jail sent digital currencies down more than 70%.
We’re suffering through a similar slump now, with about 54% of the total crypto market value being eliminated since prices hit their peak in October 2025, when the most popular coin, Bitcoin, hit its high of $126,000. It’s currently hovering around $60,000.
Does that mean the investment world is finally ready to concede that crypto is a house of cards? I doubt it, and that’s based on the caliber of the players involved and the emerging technology the coins support, known as the blockchain. BlackRock, the world’s largest asset manager, is deep into the crypto space with its popular ETFs, and there is no bigger “trad fi” guy than the company’s longtime CEO, Larry Fink.
Still, there’s a good argument to be made that there’s more downside pain ahead. During last year’s run up, speculators using “leverage” or borrowed funds poured into digital coins. Leverage makes any sell off more acute, of course, because traders need to pay back their loans, and that has led to the selling pressure that remains in effect today.
(Excerpt) Read more at nypost.com ...
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Wrong.
Gold is used in various industrial applications, with approximately 10% of all gold produced utilized in industries such as electronics, medicine, and aerospace. Its unique properties, including excellent conductivity and resistance to corrosion, make it essential for high-quality electronic components and medical devices.
Crypto is just digital fiat. I’d take gold and silver over that any day.
“ I don’t think a single merchant I trade with would accept crypto. They’re all old coots like me.”
Maybe not old coots , just common sense!
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