Renminbi Assets

Metrics Ventu

2026-08-15 02:50:08

Metrics Ventures says gold still outranks Bitcoin as a haven in a weakening fiat backdrop

Metrics Ventures, a secondary-market crypto fund, used its July-August market note to argue that the key issue is no longer whether a single Federal Reserve chair can fix the dollar. The firm said it extended the reporting window because it viewed Warsh’s remarks in July as especially important, and added that bond markets had already priced in that episode through sharply steepening spreads. In its reading, equities, bonds and foreign exchange are still sending different signals on credit risk: U.S. stocks resumed their prior stance after selective deleveraging, while bond and currency markets continue to express distrust. The report also said the earlier bottom in gold and silver points to a broader central-bank consensus, with Western currencies now judged against each other in a race to look less bad rather than through verbal policy guidance. Looking into Q3 and Q4, Metrics Ventures said it remains constructive on supply-constrained resources such as copper and power, as well as gold as a hedge against declining trust in money. On crypto, it took a more restrained view, saying the market is unlikely to see large excess returns before oversized liquidity injections and the marginal growth trajectory of AI are fully priced in.

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Metrics Ventu

2026-08-14 07:06:08

Metrics Ventures says gold and resource assets are absorbing liquidity before Bitcoin

Metrics Ventures used its latest market note, titled Talk is Cheap, to argue that recent moves in bonds and foreign exchange have already priced in the impact of Warsh’s July remarks, and that the dollar’s problems are beyond the reach of any single Federal Reserve chair. The fund said U.S. equities, bonds and currencies are still sending different signals on credit, with stocks holding onto confidence after a selective deleveraging while bond and FX markets continue to express distrust. It also said gold and silver bottomed early enough to show what it sees as a central-bank consensus: verbal signaling is no longer enough in a period of weakening confidence in Western currencies. Looking ahead to Q3 and Q4, Metrics Ventures said it still favors supply-constrained resources such as copper and electricity, along with gold, which it said continues to price in currency distrust. For crypto, the report was more restrained. It said the digital-asset market is unlikely to see large excess returns before excess liquidity is released in size and the marginal growth slowdown in AI is fully priced in. The fund also said gold and other resource commodities remain ahead of Bitcoin as liquidity-absorption assets at this stage.

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