Harvesting Gold from Asteroid Psyche Could Be Economic Boon, Not a Bust

Contrary to popular belief, harvesting gold from the asteroid Psyche wouldn’t lead to an economic collapse. Psyche contains about $10,000 quadrillion worth of gold, which could make gold nearly worthless if brought to Earth.

However, this article argues that cheap resources, similar to how aluminum became an economic asset, could create new opportunities and reallocate efforts in other industries.

The article dispels fears that cheap gold would have a negative economic impact, stating that gold’s declining value would primarily affect gold-mining companies and those who store wealth in gold, both of which are small sectors in the global economy.