Gold is a gold rush.
Just ask the man in the video below, who is selling the precious metal at $15 an ounce in a bitcoin exchange.
The guy in the clip, a California man named Nick Szabo, says he was inspired to get into the gold business after watching CNBC and seeing how the price of gold has been driven down.
It seems the price has actually been driven up, as Szabo told the Daily Beast, after he saw that price rise when he was in college in 2008.
“I’m not really that crazy about gold,” he said.
“But it’s hard to argue with the fact that gold is more expensive.”
The guy is selling about 50 ounces of gold at $17 an ounce, according to CNBC, which is more than 10 times the amount he is selling it for right now.
It’s not exactly a bubble.
Gold is worth around $1,100 an ounce.
But it has risen by more than 30% in value since 2009, when it was around $2,500 an ounce and was trading at about $600 an ounce at the time of this story’s publication.
So, while Szabo may be buying it with cash, it’s not like he’s investing it.
In fact, Szabo is selling his own gold in the same video.
He’s not going to sell it to an investor, because that’s not what his goal is.
His goal is to profit from gold.
And he’s not even making any money on it.
It takes about two years to get gold to the price Szabo wants to sell for.
Szabo has been making the video for two years.
And so far, he has sold about 2,400 ounces of the precious metals he bought in 2010.
He doesn’t have the resources to go back and re-sell them at a higher price, but he’s making a little bit of money on them.
“It’s like, ‘I got this, I got that, I’m gonna sell that,'” Szabo said of the video.
“You know, you have a lot of gold in your pockets, so why not just sell it?”
Szabo says he’s also been getting a lot more interest in selling the metal, despite the price dropping.
“A lot of people have been like, I don’t think I’m going to be able to do this, but I’m definitely going to try,” Szabo added.
“And I think I can do it.”