The price of an extremely rare metal registers, during this period, a fulminant increase, far above the Bitcoin or gold jumps.
Iridium is one of the rarest metals and very difficult to find. From this point of view, it attracted the attention of investors. Thanks to the money pumped into the purchase of this metal, its value has surpassed Bitcoin even higher than that of gold, considered a safe haven investment even in the most difficult times. .
The price of iridium, one of the rarest precious metals and obtained as a product derived from the mining of platinum and palladium, has risen by 131% since the beginning of January, far exceeding â¢ 85% ownership of Bitcoin.
The explosive rise in the price of iridium was due to last year’s supply disruptions and growing demand for it, with the metal being used to make components for screens. It is, therefore, extremely valuable for companies in the electronic devices industry and beyond.
Even if its value is high, the market is extremely small. Because it is very difficult to find, iridium is not traded on the stock exchange or on secondary platforms, as retail buyers are limited to buying from a handful of suppliers and most transactions are concluded by investors. majors go directly to the producers.
“The only long-term solution is higher prices to motivate people to sell their stakes,” said Jay Tatum, portfolio manager at Valent Asset Management.
Iridium, which is also used to make spark plugs, has reached $ 6,000 an ounce this year, three times higher than gold.
Iridium is a chemical element with a metallic character, from group VIII, atomic number 77. It melts extremely hard and is not very chemically active. It is not attacked by any acid (not even royal water). Iridium-platinum alloys are used in the manufacture of thermoelements, in the manufacture of crucibles, and those in iridium-osmium in the manufacture of pen tips for the tank frame.
Between the Cretaceous and the Paleogene, there is a thin layer of landmark all over the world, a few centimeters long, very rich in iridium, formed by the deposition of dust produced by the impact of the asteroid, now 66 million years.