Gold Fever

Got gold fever? 

Gold and Bitcoin had spectacular returns in 2024. Many believe that the federal government will add up to a million Bitcoins as part of the Treasury Department’s strategic reserve. This would drive demand and adoption to even higher levels. Increased involvement from major financial players could boost Bitcoin prices higher. Gold and/or Bitcoin may be a hedge against inflation, or an alternative store of value if the dollar weakens or government spending and run-away debt is not curtailed. Regardless, the Bible provides numerous principles to follow.

1. Gather Advice: “Plans fail for lack of counsel, but with many advisers they succeed,” (Proverbs 15:22).

2. Don’t Speculate: “The plans of the diligent lead to profit as surely as haste leads to poverty,” (Proverbs 21:5).

3. Always Diversify: “Give a portion to seven, or even to eight, for you know not what disaster may happen on earth,” (Ecclesiastes 11:2).

4. Gold Will Not Save You: “Your gold and silver have corroded, and their corrosion will be evidence against you and will eat your flesh like fire. You have laid up treasure in the last days,” (James 5:3).

5. Check Your Motives: “…those who desire to be rich fall into temptation, into a snare, into many senseless and harmful desires that plunge people into ruin and destruction,””(1 Timothy 6:9).

Investing a percentage of retirement funds into a gold and Bitcoin ETF might be justified. Just don’t plan on striking it rich. It could turn into fool’s gold overnight.

And if you’re struggling with credit card debt, let Christian Credit Counselors help. They can create a debt management plan specifically for you. For more information visit online at crown.org/ccc.