3) The distraction effect on precious metals - Capital dive…

3) The distraction effect on precious metals
- Capital diversion: Hundreds of billions (and now ETF-driven flows) chase BTC’s asymmetric upside, capital that might have gone to physical gold/silver.
- Narrative displacement: “Digital gold” co-opts the inflation-hedge meme, especially for younger investors who might never touch bullion.
- Liquidity and convenience: 24/7 trading, instant onramps, and social kudos make BTC the path of least resistance versus sourcing, storing, and insuring metal.