Bitcoin an ‘Emerging Competitor’ to Gold, Says CME’s Chief Economist
Blu Putnam said gold's ongoing production, likely to increase this year, contrasts with bitcoin's fixed supply.
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Why can't we be friends? The gold versus Bitcoin debate rages on. CME Group’s chief economist and managing director, Bluford Putnam, recently acknowledged that Bitcoin is competing with gold as a hedge against inflation.“Gold appears to have an emerging competitor in Bitcoin,” told Bloomberg for a video released on YouTube on Tuesday. “Given the current price range for gold, it is likely that increased production will be a feature of 2021,” he said.Gold’s supply is less clearly defined than Bitcoin’s. Built into the asset’s code, BTC touts a set maximum limit of 21 million coins, dispersed....