[gtt]

12% of what? The gold has a limited supply as with bitcoins but it needed by industry. You may not be able sell your gold in 2040 for the same price in us dollars as you bought it today but it will be demand as industry hopefully will continue to exist.

[nwzpaperman]

Annual industrial demand makes up only 12% of the annual gold production-consumption. I provided a source for the stat above.