NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Iconic Trader Warns Bitcoin Holders Of Executive Order Banning Gold

Tony "The Bull" Severino
Tony "The Bull" Severino
1 year ago
3 mins read
bitcoin crime

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin has been booming in part because of the digital gold narrative, among many other key factors. However, a veteran trader is reminding crypto holders of an old US Executive Order banning gold, warning that it could very well happen again, but with Bitcoin. Are they just trolling, or is there truth to the claim?

Here’s everything you need to know about Executive Order #6102, why it is unlikely to happen again, but also why it is something every crypto investor should be aware of.

Bitcoin Becomes Digital Gold Post-Pandemic

Bitcoin has exploded back into the limelight after three years of a bear market. This bull market has already taken Bitcoin from under $4,000 to nearly $60,000 and over a $1 trillion market cap.

Although the cryptocurrency is primarily a speculative asset at this time that’s difficult to assign a value to, some analysts put the price per Bitcoin as high as $400,000 and beyond in the future.

Related Reading | Chart Comparison Demonstrates Effectiveness Of Bitcoin Digital Gold Narrative

As the cryptocurrency’s market cap grows and beats major publicly traded company after company, even rising the ranks of total currencies globally, it becomes even more so a viable challenger to gold and to the dollar.

Bitcoin is now trouncing gold with its better, faster, more secure, all-digital narrative, but it is still a far ways off from facing squarely off with the dollar as the global reserve asset.

bitcoin btc xau

Gold's value has been diminishing while Bitcoin's rises. Coincidence? | Source: BTCUSD on TradingView.com

At one point in time, when the dollar was at its weakest and the nation of the United States was in crisis. Then US US President Franklin D. Roosevelt signed into law an Executive Order “forbidding the hoarding of gold coin, gold bullion, and gold certificates,” in the country.

The action, put into law in April 1933, involved a “penalty of $10,000 and/or up to five to ten years imprisonment,” if discovered holding more than the allowed allocation of $100 in gold coins or up to five troy ounces of gold.

At the time, the US was dealing with the Great Depression and to combat economic challenges, investors flocked to the safe haven asset. Sound familiar?

Career commodities trader Peter Brandt today warned crypto investors that the same could theoretically happen to Bitcoin – an asset in which he holds and often comments on. And while in theory this is true, things are very different than they were back then.

Executive Order #6102 — Action by a progressive U.S. president during a time of a national crisis
Been done before
Any U.S. citizen who thinks it can't be done again better think twice – but this time not with Gold pic.twitter.com/OA95G3lxB9

— Peter Brandt (@PeterLBrandt) February 21, 2021

At the time, the United States government had significantly more control over its citizens than it currently does, thanks to decentralization and the internet. Individual wealth is very different today, and the wealth controlling all of the capital in Bitcoin has a lot more say than the private individual investor did during The Great Depression.

That’s not to say it is impossible, but banning it outright for citizens of the United States while the asset flourishes globally will only serve to restrict the country’s economic growth, not save it.

Related Reading | Here’s How High Bitcoin Could Go If 2017 Repeats

And perhaps the most important benefit of Bitcoin of all, because it lacks a physical form, confiscation would need to be voluntary or would otherwise be impossible.

An Executive Order of this magnitude is not impossible, but even Brandt himself appears to be only having some fun and trolling the speculators holding the cryptocurrency currently.

Featured image from Deposit Photos, Charts from TradingView.com
Tweet123Share196ShareSend
Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

L’ultimo Rally di Bitcoin è Sostenuto da un Potere d’Acquisto più Forte: Report

I dati del Bitcoin Stablecoin Supply Ratio suggeriscono che oggi gli investitori hanno un potere d’acquisto più forte rispetto al...

clararosati 1 hour ago
Dogecoin koers stijgt 9% na golden cross op uurgrafiek

Dogecoin koers stijgt 9% na golden cross op uurgrafiek

De Dogecoin koers maakte een sterke start in juli met flinke stijgingen. Dit volgde nadat een golden cross patroon te...

Lars Diederiksen 2 hours ago
Altcoin

Altcoin Season Not Remotely Close, Bitcoin Dominance Still Too High: Market Expert Says

The wait for altcoin season continues as the crypto market is still showing signs of bearish movement. Expectations are high...

Scott Matherson 2 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

$SNORT

ChatGPT napoveduje 10x rast žetona Snorter

tanjapotocnik 26 minutes ago
DOGECOIN

Dogecoin cena gre še višje, TOKEN6900 bo eksplodiral

tanjapotocnik 40 minutes ago
Dogecoin price news

The $1 Dogecoin Dream Is Alive: Chartist Lays Out Parabolic Scenario

Jake Simmons 48 minutes ago

Premium Sponsors

Press Releases

  • ミームコイン急騰中|Solana発の人気銘柄続々高騰、新たな注目トークンも登場か?

    ...

    40 seconds ago
  • Dự Đoán Giá Fartcoin: Meme Coin Tiềm Năng FARTCOIN...

    3 hours ago
  • CertiK Validates FUNToken’s

    CertiK Validates FUNToken’s Smart Contract Strength With...

    3 hours ago
  • Explore Potential Coins

    Peter Thiel của PayPal Hậu Thuẫn Ngân Hàng Crypto...

    4 hours ago
  • Altcoin season uitgesteld? Bitcoin dominantie houdt kapitaal weg van XRP, SOL en ADA

    Những Altcoin Nên Mua Tháng 7 – USELESS, BROCCOLI...

    4 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.