Max Keiser Warns Gold Investors Amid El Salvador's Massive Gold Discovery

According to U.Today, Max Keiser, a well-known Bitcoin advocate and advisor to El Salvador's President Nayib Bukele, has issued a stark warning to gold investors. This comes as Bitcoin has surged past the $100,000 mark, prompting Keiser to address gold enthusiasts through his social media account on the X network. His warning follows a significant discovery by El Salvador's leadership, revealing that the country may possess gold deposits valued at $3 trillion. President Nayib Bukele recently announced that El Salvador could potentially hold the largest gold deposits globally, attributed to the region's volcanic activity. Research conducted on just 4% of the potential areas has already identified 50 million ounces of gold, valued at approximately $131.565 billion. The total potential gold deposits are estimated to exceed $3 trillion, surpassing the country's GDP by over 8,800%. In addition to gold, the exploration has uncovered other valuable materials such as gallium, tantalum, and tin, which are essential for the upcoming industrial revolutions. Despite a longstanding ban on metal mining due to environmental concerns, Bukele is contemplating lifting the prohibition to clean the polluted rivers rather than allowing the pollution to persist. Max Keiser reacted to the news by engaging with a suggestion from a user on the X network, who proposed that El Salvador should sell its potential gold reserves and invest the proceeds in Bitcoin. Keiser agreed, stating that selling gold at a discount to purchase Bitcoin is the only viable strategy for gold investors to remain profitable. He argued that Bitcoin is gradually rendering gold obsolete, leading to a diminishing pool of future gold buyers. Without buyers, Keiser believes that mined gold would lose its value. Currently, Bitcoin is trading at $101,240, reflecting a 7.22% increase over the past two days.