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Erik Voorhees Moves Millions into Gold-Backed Tokens:💥💥🔥🔥💥💥
Erik Voorhees, a Bitcoin pioneer and ShapeShift founder, has made a $6.81 million investment in tokenized gold, stirring a discussion among traders regarding whether this is a hedge or a strategic change.
Key Points
To make this investment, Voorhees purchased 1, 382 PAX Gold (PAXG) tokens using USDC stablecoin at an average cost of $4, 926 per token.The PAXG is a tokenized gold form backed by physical gold in vaults, combining liquidity and transparency with the stability of gold.The move started a discussion among traders, some of them questioning if it is an innovative strategy or just a wise diversification.Why This Move Matters
Voorhees was always a strong supporter of Bitcoin as "digital gold, " however, this acquisition of tokenized gold might indicate that he is diversifying his investments.The purchase is in line with Bitcoin's behavior as it is increasingly being correlated with risk assets rather than safe havens, with gold being projected by some analysts to reach the price of $6, 300.What is going to happen next
The investment world will be eager to discover whether other early Bitcoin adopters will follow the example of Voorhees, thus hinting at a larger change in the way long, term holders reconcile digital and physical vehicles of value.
Note:"Hey everyone! If you like this trade, I'd greatly appreciate it if you could support it by clicking on it. Not only will you benefit from the trade, but it will also help me out. Thanks in advance for your cooperation!"
#paxag #usdc #btc
$USDC
$PAXG
Erik Voorhees, a Bitcoin pioneer and ShapeShift founder, has made a $6.81 million investment in tokenized gold, stirring a discussion among traders regarding whether this is a hedge or a strategic change.
Key Points
To make this investment, Voorhees purchased 1, 382 PAX Gold (PAXG) tokens using USDC stablecoin at an average cost of $4, 926 per token.The PAXG is a tokenized gold form backed by physical gold in vaults, combining liquidity and transparency with the stability of gold.The move started a discussion among traders, some of them questioning if it is an innovative strategy or just a wise diversification.Why This Move Matters
Voorhees was always a strong supporter of Bitcoin as "digital gold, " however, this acquisition of tokenized gold might indicate that he is diversifying his investments.The purchase is in line with Bitcoin's behavior as it is increasingly being correlated with risk assets rather than safe havens, with gold being projected by some analysts to reach the price of $6, 300.What is going to happen next
The investment world will be eager to discover whether other early Bitcoin adopters will follow the example of Voorhees, thus hinting at a larger change in the way long, term holders reconcile digital and physical vehicles of value.
Note:"Hey everyone! If you like this trade, I'd greatly appreciate it if you could support it by clicking on it. Not only will you benefit from the trade, but it will also help me out. Thanks in advance for your cooperation!"
#paxag #usdc #btc
$USDC
$PAXG
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