Bitcoin, not protected by FDIC

Welcome to the new world, a digital account that investors appear to use as a digital savings account. They will come to the realization that the FDIC is no backstop.

As I said recently, one factor that I think will add pressure to the stock market, as it unravels the excess multiples, is the money being invested in digital currency.

Here is the Bitcoin chart where the price is divided by the traditional store of value, Gold.