Bitcoin to Bloom in US, Hints Dan Tapiero, as China Loads Up on Gold

Published 29/04/2025, 08:58
Updated 29/04/2025, 14:15
© Reuters.  Bitcoin to Bloom in US, Hints Dan Tapiero, as China Loads Up on Gold

U.Today - Prominent investor and the founder of Gold Bullion International, Dan Tapiero, has published a chart showing a drastic increase in gold trading activity in China. The source of this chart is Bloomberg. He believes that Bitcoin is likely to blossom in the United States.

Gold trading activity surges in China

The chart reveals a massive surge in gold trading in Mainland China, reaching 20 million ounces at the start of 2024, which comprises a notable departure from the low trading volumes in 2016, 2017 and the years that followed until now. Back then, the trading volume barely reached 10 million ounces.

This coincides with the data published in the recent World Gold Council’s report, which indicates the continuation of the retail investment boom in gold in China. Specifically, this report says that in Q1, 2024, the demand for gold in the second-largest global economy could be estimated as 336 tons (down 36% year-over-year). Still, the gold price spike drove a boom in gold investment demand even though the jewelry demand became weaker. Besides, Chinese gold ETFs saw strong inflows in 2024, and they had a great impact on gold trading activity in the country.

At the start of 2025, the demand for gold surged in the U.S. and the rest of the world due to the economic uncertainty caused by the actions of newly elected U.S. President Donald Trump — mostly trade tariffs. The U.S. raised tariffs the highest against Chinese products — 145% — and the latter did likewise. In early April, gold reached its second consecutive all-time high this year, hitting $3,500 per ounce.

Dan Tapiero shares his Bitcoin take on this

Renowned investor and financial market expert Tapiero offered his view on this situation about “digital gold” Bitcoin. He said that it was “clear who bought all the gold.” The investor explained this by pointing out that Bitcoin has been banned in China since 2021, and investors cannot legally own it. Therefore, gold is the only liquid store of value that is left for the Chinese to own.

Tapiero believes that this could mean Bitcoin is still at a very early stage because of the situation in China and Europe (which is also hostile toward BTC, he stresses). This makes the U.S. “only one beacon of freedom” and the “crypto capital of the world.”

This content was originally published on U.Today

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.