Gold ATH Underscores a World Grappling with Uncertainty

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December 23, 2025

Gold has been smashing through new all-time highs (ATHs) in late December 2025. Spot gold is trading around $4,500 per ounce, with recent sessions pushing above $4,470–$4,500 after breaking the previous record of around $4,381 set earlier in October 2025.

This caps off an extraordinary year where gold has surged approximately 70% year-to-date—its strongest annual performance since 1979. Geopolitical tensions — Escalating U.S.-Venezuela issues including tanker seizures and broader global risks driving safe-haven demand.

Expectations of further Fed rate cuts — is making non-yielding gold more attractive. Central bank buying — ETF inflows. A weaker U.S. dollar. Silver has also hit records near $69–$70/oz up over 130% YTD, but gold remains the standout.

Analysts like those at Goldman Sachs see potential for gold to reach $4,900+ in 2026, with tailwinds likely persisting. The precious metals bull market shows no signs of slowing down just yet.

Gold’s relentless push to new records—trading around $4,490–$4,500 per ounce as of December 23, 2025, after surpassing $4,477 earlier this week—signals deeper shifts in the global financial landscape.

This ~70% year-to-date surge the strongest since 1979 isn’t just a commodity rally; it’s a barometer for uncertainty. Rising gold prices often reflect erosion of confidence in riskier assets like stocks or fiat currencies. Investors are flocking to gold amid escalating geopolitical tensions like the U.S.-Venezuela tanker seizures, Ukraine-Russia conflicts and broader risks.

This acts as a hedge against turmoil, preserving value when equities or bonds falter. Gold’s role as a “crisis asset” is reaffirmed, with ETF inflows surging and central banks adding hundreds of tonnes to reserves.

A softer dollar down significantly in 2025 makes gold cheaper for foreign buyers, fueling demand. But more structurally, it points to ongoing de-dollarization: Central banks especially in emerging markets are diversifying away from USD assets toward gold, now surpassing U.S. Treasuries in some reserves for the first time in decades.

Potential long-term pressure on the dollar’s dominance as the world’s reserve currency, accelerated by trade wars, tariffs, and fiscal concerns. Persistent high gold prices highlight fears of currency debasement from ballooning government debts (U.S., UK, Europe, etc.) and potential reacceleration of inflation if rate cuts go too far.

Lower interest rates— Fed cuts expected in 2026 reduce the opportunity cost of holding non-yielding gold, supporting the rally. However, this could signal markets pricing in “run-it-hot” policies or loose fiscal spending.

Gold and silver, up ~137% has vastly beaten stocks, bonds, and even crypto in 2025, suggesting rotation into “hard assets” amid overvalued equities or AI/tech bubbles. Positive for gold miners and related stocks, which have seen massive gains due to record margins.

Potential downside: If risks ease like de-escalation in geopolitics or stronger dollar, gold could correct sharply—though most analysts see tailwinds persisting. Firms like Goldman Sachs forecast $4,900+, with risks skewed higher if uncertainties mount. Structural demand remains robust, and supply growth is limited.

Sustained high gold could warn of stagflation risks, slower growth, or financial instability—though it also provides portfolio diversification in volatile times.

Gold’s ATH streak underscores a world grappling with uncertainty: from wars and trade frictions to debt and monetary shifts. It’s thriving as the ultimate safe haven, but its strength is a cautionary tale for traditional markets. The bull run shows few signs of exhaustion yet.

Coinbase Enter Definitive Agreement to Acquire The Clearing Company

By

Paul Ugbede Godwin

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December 23, 2025

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Coinbase announced it has entered into a definitive agreement to acquire The Clearing Company, a startup specializing in regulated, on-chain prediction markets.

The deal is expected to close in January 2026, subject to customary conditions. The Clearing Company founded earlier in 2025 by Toni Gemayel former growth lead at Polymarket and Kalshi, with a team of prediction market veterans. It raised $15 million in a seed round in August 2025, backed by investors including Coinbase Ventures, Union Square Ventures, and Haun Ventures.

The startup focused on building infrastructure for on-chain, regulated prediction markets and had applied to the CFTC to become a Derivatives Clearing Organization. This move accelerates Coinbase’s recently launched prediction markets feature rolled out in partnership with Kalshi just days earlier, allowing users to trade event contracts on real-world outcomes like elections, sports, economic data, and culture alongside crypto, derivatives, and equities.

It supports Coinbase’s vision of becoming the “Everything Exchange” — a unified platform for all asset classes. The Clearing Company’s team will join Coinbase to scale its prediction markets product, bringing specialized expertise in event-based trading.

The deal value is described as immaterial, and it’s Coinbase’s 10th acquisition in 2025. This acquisition reflects growing mainstream interest in prediction markets, which exploded in popularity during the 2024 U.S. election cycle and continue to attract high engagement as a high-frequency trading product.

Strategic Implications for Coinbase

By integrating The Clearing Company’s expertise in regulated, on-chain prediction markets, Coinbase gains: Specialized talent from prediction market veterans like ex-Polymarket, Kalshi, and Coinbase staff.

Faster product scaling, including potential 24/7 markets with reduced settlement friction via in-house clearing infrastructure. A natural extension of its recent prediction markets launch in partnership with Kalshi, allowing seamless trading of outcomes in elections, sports, economic data, and culture alongside other assets.

This is Coinbase’s 10th acquisition in 2025, reflecting an aggressive strategy to build vertically integrated, compliant infrastructure rather than relying solely on partnerships. Prediction markets are high-frequency, high-engagement products that attract users beyond crypto volatility.

Analysts from Benchmark, J.P. Morgan note this could boost app usage and reduce Coinbase’s heavy reliance on spot crypto trading fees amid increasing competition. The sector sees ~$4 billion weekly notional volume per Dune Analytics, with explosive interest post-2024 U.S. elections. Mainstream adoption could drive new revenue streams as platforms like Polymarket and Kalshi gain traction.

Positions Coinbase against Robinhood, Kraken, and Gemini all expanding into equities and predictions. It also bridges centralized and decentralized worlds, potentially capturing share from blockchain-based rivals like Polymarket.

The Clearing Company had applied to the CFTC to become a Derivatives Clearing Organization (DCO), potentially enabling stablecoin-based clearing — a first if approved. This strengthens Coinbase’s regulated venue via Coinbase Financial Markets and helps navigate scrutiny in a category facing legal challenges.

Ongoing regulatory uncertainty could fragment the market or limit expansion. Some analysts express caution about diluting high-margin crypto businesses, though the deal is described as financially immaterial. Brings prediction markets deeper into traditional finance, blending them with crypto and stocks on a major exchange.

This could normalize event-based trading as a speculative and hedging tool. On-Chain innovation emphasizes regulated on-chain infrastructure, potentially paving the way for more tokenized real-world assets and 24/7 global access.

Coinbase shares rose modestly (1-3%) on announcement day, signaling positive but tempered investor sentiment amid broader crypto gains. This move solidifies Coinbase’s pivot toward a diversified, regulated super-app for finance, capitalizing on prediction markets’ momentum while addressing engagement and revenue challenges in a maturing crypto landscape.

Bitcoin Bear Market Armor? Peter Schiff Questions MicroStrategy’s $748M Cash Reserve

By

Ojukwu Emmanuel

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December 23, 2025

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MicroStrategy has reportedly boosted its USD reserve by $748 million, bringing its total cash holdings to $2.19 billion, alongside a Bitcoin portfolio of 671,268 BTC.

The move reflects the company’s continued strategy of maintaining significant liquidity while doubling down on cryptocurrency exposure, even as the market navigates a prolonged Bitcoin bear phase.

The move, funded via recent capital raises like convertible notes, provides liquidity for opportunistic BTC buys during market volatility, countering insolvency concerns raised by critics. However, this aggressive approach has sparked debate among investors, with some questioning the risks of combining large cash reserves with heavy Bitcoin holdings.

Renowned gold advocate and economist Peter Schiff has once again taken a jab at Michael Saylor and his company, Strategy, interpreting the cash buildup as a sign of panic for the bear market.

He wrote on X,

“It seems to me that you are building dollar reserves as you realize you will soon need them.”

He argued that with expected Fed rate cuts and quantitative easing likely to fuel inflation, holding USD is risky and suggested Strategy should follow Tether’s lead by building gold reserves instead.

Tether, the issuer of the world’s largest stablecoin USDT, has indeed been aggressively accumulating physical gold. In Q3 2025 alone, it purchased 26 tonnes, pushing its total holdings to 116 tonnes, enough to rank it among the top 30 global gold holders if compared to central banks.

Meanwhile, sources indicate Strategy’s cash reserve is primarily designed for liquidity, to cover preferred stock dividends (currently funded for over 32 months) and debt obligations without forcing Bitcoin sales during volatility. With Bitcoin trading around $90,000 amid a 2025 market pullback, this move is seen by some as prudent risk management rather than a lack of faith in BTC.

Schiff advocates gold over USD reserves as a superior inflation hedge. His criticism at Strategy, highlights his long-standing view that gold is the superior inflation hedge and store of value, especially in uncertain economic times.

He claims Bitcoin has lost 46% of its value in gold terms since its November 2021 peak, verified by historical data showing BTC at $69,000 against gold at $1,800/oz then, versus current levels of BTC at $87,400 and gold near $4,490/oz yielding a ratio drop from 38 to 19 ounces.

Schiff forecasts worsening BTC-gold dynamics over the next four years, reflecting his view of gold’s intrinsic scarcity versus Bitcoin’s speculative nature, supported by gold’s historical resilience in crises per Federal Reserve studies on safe-haven assets.

The gold advocate and Bitcoin skeptic, argues in the post that Bitcoin remains correlated with risk assets like stocks, amplifying downside moves while underperforming upside rallies, unlike gold’s independent strength.

He wrote,

“I don’t believe Bitcoin has decoupled from other risk assets. It just doesn’t rally as much when they rise, and it declines much more when they fall. What should be obvious by now is that it’s not digital gold. If gold goes way up, there is no reason to expect Bitcoin to follow.”

In 2025, Bitcoin surged to a $126,000 peak in October before dropping over 30% amid market volatility, while gold advanced 55% year-to-date to new highs, driven by central bank demand and geopolitical tensions.

Recent analyses show Bitcoin’s one-month correlation with the S&P 500 has stayed positive above zero for most of 2025, supporting Schiff’s view, though some data indicate a gradual decline in ties to both equities and gold since 2020.

However, ritics of Schiff point out his repeated and often incorrect predictions of gold surges over the past decade, while Bitcoin has delivered massive returns for holders like Strategy.

Around 2008–2009, he predicted gold to reach $2,000 by 2009 and $5,000 by 2013 (gold peaked near $1,900 in 2011 but did not hit those targets on schedule).

His repeated bullish calls amid post-2008 QE and low inflation, yet gold traded sideways or lower for much of the decade (e.g., dipping below $1,300 as late as 2019).

These predictions often proved premature and incorrect in timing. Gold did not experience the explosive, sustained surge Schiff anticipated until the 2020s, particularly accelerating in 2024–2025 amid geopolitical tensions, central bank buying, and inflation concerns.

The point raised by critics is one of opportunity cost and timing. For much of the 2010s and early 2020s, Schiff’s urgent calls for imminent gold surges led investors to miss Bitcoin’s historic rally (and often stock market gains), while gold underperformed. His predictions were directionally correct long-term but repeatedly wrong on near-term execution, costing followers potential massive returns elsewhere.

Schiff remains unapologetic, dismissing Bitcoin as worthless and insisting gold’s physical utility and history make it superior. As of December 2025, with gold at record highs, his latest bullishness appears vindicated in the short run but the decade-long contrast with Bitcoin’s performance underscores the critics’ argument.

Outlook

Looking ahead, MicroStrategy’s dual strategy of holding substantial USD liquidity while maintaining a significant Bitcoin position positions the company to capitalize on market volatility without being forced into distressed BTC sales.

Analysts suggest that this approach could allow the firm to selectively accumulate Bitcoin at attractive levels during dips, potentially amplifying long-term returns if the cryptocurrency recovers or enters another bullish cycle.

Ultimately, the next 12–24 months may prove pivotal in evaluating the merits of MicroStrategy’s approach. Success could cement Bitcoin’s role as a strategic corporate asset, while significant drawdowns could embolden critics who argue for more traditional hedges like gold.

IMF Commends El Salvador’s Economic Growth as Bitcoin Strategy Continues

By

Ojukwu Emmanuel

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December 23, 2025

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The International Monetary Fund (IMF) has lauded El Salvador for sustaining strong economic growth, citing expanding output and improving macroeconomic conditions.

In a press release, the IMF noted that El Salvador’s economic performance has exceeded expectations, supported by improved investor confidence, record remittance inflows, and strong investment activity.

“The economy is expanding at a faster than anticipated pace on the back of improved confidence, record remittances, and buoyant investment. Real GDP growth is projected to reach around 4 percent this year and with very good prospects for next year”, it wrote.

Reports reveal that the Salvadoran economy grew 5.1% in the third quarter of 2025, consolidating its upward trajectory after having grown 2.4% and 4.1% in the first and second quarters, respectively.

This growth was driven by factors such as: Safety conditions in the country, strength of the financial sector, boom in public and private investment in construction, among others.

In 2022, the IMF had urged El Salvador to abandon Bitcoin as a legal means of payment, saying the cryptocurrency could pose risks to national financial stability, consumer protection, and the ability to receive loans.

Despite these concerns, President Nayib Bukele’s administration made it clear that Bitcoin’s legal tender status was not up for negotiation. Government officials maintained that Bitcoin remains central to El Salvador’s long-term vision for financial innovation, inclusion, and economic sovereignty.

The recent commendation by the IMF comes as it continues to work closely with President Nayib Bukele’s administration under the Extended Fund Facility (EFF) program, approved earlier this year for $1.4 billion.

As part of the EFF agreement, El Salvador committed to halting its official Bitcoin accumulation strategy. The government also agreed to sell its state-run Chivo wallet infrastructure and allow the private sector to operate freely with Bitcoin, which remains legal tender in the country.

“Negotiations for the sale of the government e-wallet Chivo are well advanced, and discussions with regard to the Bitcoin project continue, centered on enhancing transparency, safeguarding public resources, and mitigating risks,” the IMF stated in its report.

The IMF also highlighted the government’s continued commitment to fiscal consolidation. It noted that El Salvador remains on track to meet its end-2025 primary balance target, while the recently approved 2026 budget aligns with further deficit reduction alongside increased social spending. These fiscal efforts, the IMF said, are helping to boost foreign reserves and reduce domestic borrowing in line with program targets.

Beyond near-term fiscal measures, the Fund pointed to progress on key structural reforms aimed at strengthening the country’s economic foundations. The Fund concluded by reaffirming its commitment to continued close engagement with Salvadoran authorities.

According to the IMF, discussions will continue in the coming period with the goal of reaching an agreement on all remaining policies and reforms required to complete the second review of the EFF program

Despite these commitments, blockchain analytics firm Arkham reports that El Salvador has continued its daily Bitcoin purchases. On-chain data indicates that the country’s Bitcoin holdings have grown to approximately 7,508 BTC at press time, suggesting ongoing accumulation despite IMF restrictions.

Background Story

El Salvador made history in September 2021 by becoming the first country in the world to adopt Bitcoin as legal tender. The landmark policy took effect on September 7, 2021, positioning the Central American nation at the center of the global cryptocurrency debate.

The move followed the passage of the Bitcoin Law by El Salvador’s Legislative Assembly on June 9, 2021. The law was approved with a strong majority and signed by President Nayib Bukele, who championed Bitcoin as a tool for financial inclusion, innovation, and economic independence.

Under the legislation, Bitcoin became legal tender alongside the U.S. dollar, which El Salvador has used as its official currency since 2001. The law required businesses to accept Bitcoin as a form of payment, except in cases where technological limitations made it impractical. To support adoption, the government launched the Chivo digital wallet, offering incentives to encourage citizens to use Bitcoin for everyday transactions.

President Bukele argued that Bitcoin adoption would lower remittance costs, expand access to financial services for the unbanked population, and attract foreign investment. However, the decision also drew criticism from international financial institutions, including the International Monetary Fund (IMF), which raised concerns about financial stability, fiscal risks, and consumer protection.

Since its adoption, El Salvador’s Bitcoin policy has remained a defining feature of its economic strategy, sparking both global interest and controversy.

Market Impact

Since the adoption of Bitcoin as a legal tender, the crypto asset has had measurable effects on the country’s economy, financial inclusion, and investment climate.

Remittances have long been a critical pillar of El Salvador’s economy, accounting for nearly 24% of GDP. With Bitcoin. Reports show that remittance flows surged by over 10% after the introduction of Bitcoin, saving recipients millions in transfer costs compared to traditional channels.

Also, the government’s Chivo wallet, a state-backed digital platform, has helped integrate previously unbanked populations into the financial system. As of late 2025, over 3.5 million Salvadorans, roughly 50% of the adult population, actively use the Chivo wallet for payments, savings, and Bitcoin transactions. This increased access to financial services has facilitated micro-business growth and everyday transactions.

Notably, El Salvador’s Bitcoin-friendly policies have drawn tech entrepreneurs, blockchain startups, and international investors. Several Bitcoin conferences and business ventures have been hosted in the country, providing a boost to tourism revenue and creating new job opportunities. According to local reports, foreign direct investment in technology sectors rose by 15% in the two years following adoption

El Salvador’s continued support for Bitcoin has reinforced a bullish macro outlook around the asset. President Bukele has also maintained close ties with U.S. President Donald Trump, a relationship that has further amplified attention on the country’s Bitcoin adoption strategy.

Outlook

With Bitcoin’s fixed supply and increasing global demand, market observers suggest the cryptocurrency could track the long-term performance of traditional stores of value such as gold and silver.

In this context, El Salvador is increasingly viewed as being strategically positioned to benefit from potential Bitcoin price appreciation, which could strengthen its fiscal position and support public debt obligations over time.

Understanding NFL Futures Odds and Lines: Strategy Review by MoonBet

By

TI Partners

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December 23, 2025

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NFL futures betting allows bettors to look far beyond the next kickoff. Instead of wagering on a single game, futures markets focus on season-long outcomes such as Super Bowl winners, conference champions, division titles, and individual awards like MVP. These bets require a different mindset from weekly spreads or totals, as they involve longer timelines, evolving odds, and greater exposure to uncertainty.

This guide breaks down how NFL futures odds and lines work, how to read them correctly, and how bettors can approach futures strategically. We’ll also examine how modern platforms, including analytical sportsbooks such as Moonbet, frame futures markets from a value and probability standpoint.

What Are NFL Futures Bets?

NFL futures are wagers placed on outcomes that will be decided later in the season or at season’s end. Common NFL futures markets include:

Super Bowl champion
AFC/NFC conference winner
Division winners
Regular-season win totals
MVP, Offensive Player of the Year, Defensive Player of the Year
Rookie of the Year

Unlike standard game bets, futures tie up bankroll for months. That longer horizon increases both risk and potential reward, which is why understanding odds movement and implied probability is critical.

How NFL Futures Odds Are Set?

Futures odds are primarily driven by power ratings, projected schedules, roster strength, and public perception. Before the season starts, sportsbooks build models using:

Previous season performance
Offseason roster changes
Coaching continuity
Strength of schedule
Injury recovery timelines

For example, in recent seasons, teams like the Kansas City Chiefs and San Francisco 49ers have opened as Super Bowl favorites due to elite quarterback play and roster depth. Conversely, rebuilding teams often carry long odds that reflect lower projected win totals and playoff probability.

As the season progresses, odds adjust weekly based on results, injuries, and playoff positioning.

Reading NFL Futures Odds and Lines

Most U.S. sportsbooks present futures using American odds:

Positive odds (+800) indicate how much profit a $100 bet would return.
Negative odds (-150) indicate how much you need to wager to win $100.

Futures lines also reflect implied probability. For example, a team priced around +600 suggests the market believes it has roughly a 14–15% chance of winning the Super Bowl. Understanding this helps bettors assess whether the price reflects real value or public hype.

One mistake newer bettors make is focusing only on payout size instead of probability. Long odds do not automatically mean good value if the underlying chance is still extremely low.

Key NFL Futures Markets Explained

NFL futures markets cover season-long outcomes, allowing bettors to evaluate team performance, projections, and value well before final results are decided.

Super Bowl Winner

This is the most popular futures market, but often the least efficient. Favorites are usually priced tightly, while longshots may look attractive but rarely win. Historically, Super Bowl winners tend to come from a short list of contenders with elite quarterbacks and top-10 defenses.

Conference & Division Winners

These markets often offer better value than Super Bowl futures. A strong team in a weak division may have favorable odds even if its championship chances are lower. Division futures also allow bettors to hedge later in the season.

Win Totals

Season win totals are among the most data-driven futures. They rely heavily on schedule analysis and roster depth. Injuries, however, remain the biggest variable. Sharp bettors often target win totals early, before preseason narratives shift public sentiment.

Player Awards (MVP, OROY, DPOY)

These futures are highly narrative-driven. Quarterbacks dominate MVP voting, while rookies on playoff-caliber teams tend to outperform those on losing rosters. Odds can swing dramatically after nationally televised games.

Strategic Considerations for Betting NFL Futures

NFL futures require patience, timing, and disciplined bankroll management, as odds evolve with injuries, schedules, public perception, and playoff scenarios.

Timing Matters

Early bets may offer better prices but carry higher uncertainty. Late bets provide more information but reduced value. Many experienced bettors split exposure, placing partial positions early and adjusting later.

Bankroll Management Is Critical

Because futures tie up funds for months, they should represent only a small percentage of total bankroll. Overexposure limits flexibility for weekly betting opportunities.

Hedge Opportunities

One advantage of futures betting is the ability to hedge. For example, a preseason division bet can be hedged late in the season by wagering on a rival team or game-by-game outcomes.

Avoid Narrative Traps

Public narratives, such as “breakout seasons” or “revenge years” often inflate odds without statistical backing. Futures markets reward disciplined analysis over hype.

How Modern Betting Platforms Approach NFL Futures

Modern sportsbooks increasingly rely on dynamic pricing models that adjust futures odds in near real time. This includes:

Live injury updates
Playoff simulation models
Public betting percentages
Sharp money indicators

Advanced platforms often publish deeper markets such as alternate win totals or segmented futures which allow bettors to fine-tune exposure rather than relying on all-or-nothing wagers.

A strategy-focused review by Moonbet highlights how futures lines can shift significantly after only a few weeks of regular-season play, reinforcing the importance of timing and market awareness.

Common Mistakes to Avoid

Futures betting rewards patience and discipline more than aggression.

Betting too many longshots “just in case”
Ignoring injury risk at key positions
Overreacting to early-season results
Locking up too much bankroll in futures
Chasing odds movement without understanding why it changed

Responsible Betting and Futures Risk

Because futures bets extend across an entire season, they can amplify emotional and financial exposure. Responsible bettors set limits, track open positions, and avoid using futures as a substitute for weekly analysis.

U.S. sportsbooks are required to offer responsible gambling tools, and bettors should use them, especially when engaging in long-term markets like futures.

Final Thoughts

NFL futures betting offers a deeper, more strategic way to engage with the season. By understanding how odds are set, how lines move, and how to evaluate value versus probability, bettors can approach futures with clarity rather than speculation.

Whether you’re analyzing win totals, division races, or championship odds, success in futures markets comes from timing, restraint, and data-driven thinking. Strategy-oriented platforms like Moonbet reflect this shift toward more analytical futures betting, where understanding the numbers matters more than chasing the biggest payout.

Gold ATH Underscores a World Grappling with Uncertainty

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