Yamana Gold Inc (AUY)

[chris hedges]

cryptocurrencies are eating AUY's lunch

the next wave of investors particularly the younger, technologists, the twitter traders, this huge class of investors doesn't really give a shit for gold. Gold is an antiquated hedge against fiat/geo-politics.

ton of money is flowing into cryptocurrencies, theyre viewed as a significantly more valuable, more liquid, less manipulated asset.

Bitcoin, Ethereum, Litecoin, XRP, the list goes for miles. Crypto in aggregate is approaching 100 billion in market cap. its going to keep growing, gold is walking a slow death. Gold and its mining, and legacy of worker's rights abuse and extreme environmental destruction are not helping either.

its an out of date asset. and for disclosure i hold about 5% in AUY, will be exiting completely when i get to break-even, that money will all be reapplied to cryptos.

get with the times gold bugs, go digital rather than analog