Bitcoin’s Rapid Increase Should Compel Crypto Investors to Own Gold, Says Top...
Sandeep Biswas, chief executive officer of Newcrest Mining, one of the world’s biggest gold miners, has said that the sharp increase in bitcoin prices should compel crypto investors to hold gold as a safe-haven asset. In a Feb. 11 interview with Bloomberg TV, Biswas criticized bitcoin’s (BTC) volatility while flouting gold’s credentials as a time-tested haven against monetary inflation. “If you’re into cryptos, you want to consider having some gold,” said Biswas, who heads Australia’s top gold producer. “[Bullion] may act as a bit of a hedge....
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Just because gold is losing momentum and bitcoin is gaining it doesn't mean investors are selling gold to buy bitcoin – not yet, anyway.
The crypto market has been on a recovery trend lately. Even with the market crash, it had already marked a year of massive returns for investors in the space. As is expected with a space with high volatility, crypto assets had begun to crumble in value. But despite the profitable year for cryptocurrencies, a subset of crypto tokens had made their mark as the assets with the highest returns, and they don’t look to be stopping anytime soon. Gold-Backed Tokens Surge These gold-backed assets have helped to increase the liquidity of gold by enabling the ownership of small fractions of gold.....
Dan Tapiero told Anthony Pompliano that $15 trillion in institutional capital could flow into Bitcoin, pushing prices as high as $500,000. Gold Bullion International co-founder Dan Tapiero believes that it’s only a matter of time before Bitcoin’s price surges into the six-figure threshold. Speaking to Anthony Pompliano on the Pomp Podcast, Tapiero asserted that in terms of price appreciation Bitcoin is the king, even though he believes investors should own both gold and Bitcoin:“In the next five years, I can see gold at $4,000, so that’s double. But if gold is at $4,000, Bitcoin is....
A report from JPMorgan’s Global Markets Strategy division discusses three bullish reasons for Bitcoin’s long-term potential. JPMorgan, the $316 billion investment banking giant, said the potential long-term upside for Bitcoin (BTC) is “considerable.” This new optimistic stance towards the dominant cryptocurrency comes after PayPal allowed its users to buy and sell crypto assets.JP Morgan, from "Bitcoin is a fraud and will blow up" in 2017 to "Bitcoin’s competition with gold" in 2020. We've come a long way. pic.twitter.com/xceabkHaVJ— Krüger (@krugermacro) October 24, 2020 The....
Gold futures and Bitcoin are on similar paths, albeit both for different reasons. People often see correlations between gold futures and Bitcoin, as they are both quite valuable with potential for a value increase. Now that the Bitcoin price is rising, the value of gold seems to follow a similar trend. Or to be more precise, the gold miner stocks are increasing in price, which could indicate a future gold price increase. Gold Futures Surge By Over 11%. This week has been kind of interesting for traders keeping a close eye on the gold futures charts. With the best day in over seven years on....