Macro analyst Luke Gromen has recently turned bearish and significantly reduced his Bitcoin holdings. In the context of exponential deflation triggered by AI and robotics, Bitcoin behaves more like high Beta tech stocks rather than a safe-haven asset. Unless governments initiate large-scale money printing at a nuclear level, its price will remain under pressure.

In contrast, he is highly optimistic about silver, which has a more direct and straightforward logic than Bitcoin. He observes that industrial demand continues to rise, while supply-side has almost no capacity for rapid expansion. Even if prices increase, supply is unlikely to respond quickly.

To illustrate, Bitcoin is like the most sensitive smoke detector on a sunny day, but in a deflationary storm, it is more like a fragile sail; silver, on the other hand, is more like a ballast weight, more stable amid the wave of manufacturing returning to pragmatic politics.