Crypto Backed Up By Gold. It’s a new product from a silicon valley company mutating gold and crypto into a single unit. In addition, gold potentially has a supply (if mined and processed) that’s more than cryptocurrencies like bitcoin that have a definitively fixed amount of coins that can be mined.
The crypto research report portfolio has 15% allocated to pax gold, and is staking that gold on crypto.com. Tether just announced a new token called tether gold (xaut. The project would involve creating and launching a crypto token that is backed by gold.
This adaptation is an innovation from existing stablecoins that could.
The overall point of the exercise would be to completely devalue the us dollar to zero. Cryptocurrenices backed by assets are able to provide both asset value and safety to investors. Bitcoin is backed only by its blockchain, not physical assets such as gold, silver, or platinum. “ [china] is rolling out a cryptocurrency, a lot of the details have not been divulged.