Great thought

You no longer have to pay to hold gold. We pay you to hold it. $STEX

Tokenization's real promise is democratizing access-opening investment opportunities to more people and giving businesses new ways to raise capital. But as access scales, security has to scale with it. Some processes take time because they protect investors. The goal is to remove unnecessary friction while strengthening those protections. That's how you unlock broader participation and lasting trust.

Big add for us. Laura Kiernan is joining as Head of Investor Relations. 30-plus years in capital markets, guiding Fortune 500 and high-growth public companies through the moments that matter. That experience is exactly what this stage of the company calls for. We have spent this year building the substance, the products, the partners, the verification, the infrastructure. Laura's job is to make sure the market actually understands what has been built. Welcome aboard.

How I see gold from here. It consolidates, moves up, pulls back a bit, consolidates, and does it again. Never a straight line. It never has been. We are coming into midterms. That means volatility, and volatility sends gold higher. Bitcoin follows once it gets going, same as it usually does. But the part that actually gets me is the central banks. The sheer amount of gold they are buying is the scary part. They are buying it because they think the dollar is going to lose purchasing power. Sit with that. The people who run the currency are quietly swapping it for the one thing they cannot print. That tells you plenty. And it sends gold a lot higher from here.

What happens when gold starts compounding? Consider a simple thought experiment beginning in January 1971: $100 invested in the S&P 500 with dividends reinvested grew to roughly $36,000. $100 invested in gold, assuming a 3.5% annual yield paid in additional gold and fully reinvested, would have grown to nearly $79,000. More than twice the ending value. The annualized difference is only around 1.6 percentage points. Across 55 years, that small edge becomes enormous. For decades, gold gave investors price exposure without recurring income. Add yield paid in additional ounces, and every future increase in the gold price applies to a steadily growing gold balance. That fundamentally expands gold’s role in a portfolio. It can preserve purchasing power while also functioning as a productive reserve asset. This is the idea behind GLDY. Gold has always preserved wealth. Now it can compound it.

Everyone wants a war between Bitcoin and gold. I think the opposite will happen. Gold buyers will understand and get Bitcoin along the way and Bitcoin buyers will accumulate gold along the way. The common thread is simple: people want assets that are scarce, global, and outside the usual financial noise. The maxis on both sides are the only ones missing it.

Watch what central banks do. Central banks bought 289 tonnes of gold in Q2, a record for the quarter, while gold ETFs recorded 45 tonnes of outflows. China added nearly 20 tonnes in July, its biggest monthly purchase since October 2023 and its 21st consecutive month of accumulation. Last year, central banks bought 863 tonnes. Historically elevated demand, sustained through volatility. ETF investors sold through the weakness. Reserve managers kept building. They operate on longer horizons, and their actions continue to send a clear signal.

Best sober take on tokenization I have read in a while. Tokenization removes friction. Settlement that took days now happens in seconds, and everyone cheers. But those frictions were not just inefficiency. They were buffers. Time to catch an error, meet a margin call, step in during stress. Take the friction out without rebuilding the safeguards and you get a system that can fail faster than anyone can respond. The risk does not disappear. It moves. Off the balance sheets of banks and onto the platforms and the code that run these markets. Whoever operates that infrastructure becomes systemically important, ready or not. The technology is the easy part. Building infrastructure that can carry real risk is the hard part.

Gold is stabilizing here. Sitting around $4,057, below a 200 day average that has flattened out near $4,287. Textbook consolidation. Gold ran to almost $5,600 in January, pulled back hard, and now it grinds sideways under the 200 while the crowd loses interest. That is what gold does. It moves in jumps, not straight lines, and it spends most of its time boring people out of the trade right before it runs. Below the 200 is where the impatient give up and the patient accumulate. I think we are back to 5k by year end. The fundamentals that drive this can only be held down for so long. Rates, debt, central banks. None of that got fixed.

Another gold idea to get more Yield, funds better pay attention as this is the best gold trade you can have thats delta neutral. @henrymcphie_ and team doing their magic!. $STEX $GLDY

Someone asked me recently, outside of your own companies Streamex and Nexgold. What else would you put money into, I said this is not financial advice but I look for value in areas that are not fully understood yet. While large data centers may be an easy thing to understand, there is a company that is strategically wrapping up small data centers. They are nimble and able to compete, 10m in cash and 5m rev moving up from there. They have significant demand and keep quietly closing deals. I love it because it’s a venture company and if and when it was up listed to Nasdaq it should trade and a massive premium, but more so the team keeps relentlessly executing. $CCDS.V is the ticker! Entry was below 1.15 I keep buying as they have a scale and trajectory that is understated by the market currently, and honestly just good people! The next one is a stock with the ticker $PAIN.V Yes ticker first because well, it’s a great ticker. These guys are the leading peptide company listed and are revenue generating with a significant bump coming which has been announced and not understood by the market yet. Entry was in the financing and then bought a large tranche at $1.55. Rev generating and will scale quickly according to their most recent prs Diversification is key, I am fully deployed into Streamex and Nexgold but these two other positions are my two bets that I am not an insider of, as you noticed my heaviest positions are ones that I have founded or are directly involved with. Being in the public markets its always good to be made aware of these other opportunities! This is not financial advice but a snap shot of a question that was asked of me. I am extremely bullish on $STEX and $NEXG.V as those are my anchor positions but these other ones have a high return probability as well.

Central banks print the money. They also keep buying gold at record prices with that money. The people who issue the currency are the same people quietly stacking the asset they cannot issue. That should tell you something about what they trust as a reserve.

Gold is one of the most liquid assets on earth. It trades over $255 billion a day, more than the Dow Jones and on par with US Treasury bills. Around 3,000 tonnes change hands daily. And unlike almost everything else, gold's liquidity does not dry up in a crisis. That is a big part of why people own it. However, that liquidity belongs to the market, not to you. The wholesale gold market runs deep and nearly around the clock. The way most people actually hold gold does not. ETFs close at 4pm. Physical carries spreads and settlement delays. So the asset is liquid while your position sits still, and that gap shows up at the exact moment you need to move. Closing that gap is the work with @henrymcphie_. With Wintermute joining Orca and tZERO's regulated ATS, GLDY now has continuous liquidity. Your gold moves when you decide to, not when a bell rings. A token is only as real as your ability to get out of it. Now the metal can trade on your schedule, the way the underlying market always has. $STEX