As you probably know I am accumulating silver for more than a year now. Honestly, I am not one of those peeps expecting a huge silver run to the moon any time soon.
It's just more of a hobby for me and any future profits would be a nice bonus. And I guess I also do it to have a fail safe in case of a full blown out doomsday monetary collapse. Let's be honest, if that happens, nobody will care about our silly bags 😂
Anyways, I was doing some research on silver today. My bag is getting heavier and heavier and at this point it only makes sense to know more about it and its "tokenomics". Lmao.
So here's something interesting about silver I learned today.
Since at least 2021, silver demand outpaces the actual supply. 2023 is still not over but here are some numbers about 2023:
Global demand for silver rose by 18% last year to a record high of 1.24 billion ounces, creating a huge supply deficit, the Silver Institute said on Wednesday, predicting more shortages in the years to come.
The silver market was undersupplied by 237.7 million ounces in 2022, the institute said in its latest World Silver Survey, calling this "possibly the most significant deficit on record". source
Dunno how and if this is bullish but at least it gives me some piece of mind that my stack will at least maintain it's value. 😂
But...
A quick Google search reveals plenty other opinions that there is actually not much of a shortage and it's mostly a logistical problem. But these sources usually still agree in one thing. That holding silver is a good bet against hyperinflation and as failsafe against a doomsday scenario.
So what you think? Is silver undersupplied? Or is it just a marketing gimmick to pump sales?
P.S.: You may have noticed how my photos are getting a bit more artistic. I am having my wife teach me tricks and shit as it might come in handy in the future.. But more on that on a future post!
