Why exchanges buying gold is bullish

Crypto companies buying gold is fine. That’s bullish believe it or not to me. Gold is the standard when it comes to “stable liquidity” Has been for a while. Not decoupling that if you ask me, especially with technology giving gold a real use case as well.

I see a lot of FUD about “ exchanges are buying gold, why not buy gold and not btc/crypto. “ and they’re not wrong. Gold is a great asset to buy and hold. But it’s not practical to use and trade. And that’s why it’s bullish for Crypto.

Considering the USD is no longer backed by a gold standard, has not been for a while, doesn’t plan to be either by the looks of it.

Crypto is at least moving to a gold backed standard.

I will never be able to take gold into a grocery store and buy my necessities, but what I can do is trade a currency that is backed by gold for my necessities.

Which is why I’m bullish on exchanges scooping up gold.