BNY Mellon Report Compares Bitcoin and Gold, Study Says ‘Gold Is the Only Glo...
The popular safe-haven asset gold recently posted the lowest settlement in three weeks, as a firm dollar and bond market yields have weakened support for the precious metal. The financial goliath BNY Mellon also published a report about the differences between gold and bitcoin and the study said that the crypto asset “fits the description of a nascent currency.” A Firm Dollar and Treasury Yields Takes Some Steam Out of Gold’s Market Performance The U.S. dollar has gained some strength in the last two weeks, and crypto-assets like bitcoin (BTC) have increased in value as....
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A new study has found that nearly 43% of Turkish individuals surveyed consider gold to be the best form of investment, while just 1.9% said they would invest in cryptocurrencies. Real estate is the next most-preferred after gold, with 27.4% of the respondents saying they would invest.
Fewer Turks Now View Gold as Best Investment
A recent study by Areda Survey has found that a significant number of Turks — about 42.9% — still consider gold to be the best form of investment. The figure is almost 15 percentage points lower than the number of Turkish individuals that....
On Monday, the U.S. bank Wells Fargo’s wholly-owned subsidiary and registered investment adviser the Wells Fargo Investment Institute published an investment strategy with a page dedicated to the crypto asset bitcoin. The institute’s contributing author and head of real asset strategy, John LaForge, compared crypto investing to the “early days of the 1850’s gold rush.” This week John LaForge from the American multinational financial services company Wells Fargo published an investment strategy editorial for the bank’s subsidiary the Wells Fargo....
On Thursday, the investment firm Vaneck published a blog post that calculates how much gold or bitcoin would be worth if the two assets became global reserve assets. Vaneck’s report explained that the investment team “attempted to quantify the emergence of new gold or bitcoin-backed currency regimes.” The study’s calculations estimate that gold could reach $31,000 per ounce and bitcoin could potentially hit $1.3 million per coin. If the assets became M2 monetary supplies, then the values of bitcoin and gold could be much higher.
Vaneck’s Investment....
In February, one of the oldest financial institutions in the United States, Bank of New York Mellon, announced the launch of a custody service for Bitcoin and other cryptocurrencies. Claiming that BTC has become a widely accepted asset, the institution opted to get ahead in innovation. Now, BNY Mellon has published a valuation on Bitcoin […]
Bitcoin is not a gold standard as it is independent, without the intervention of any central bank or government agency. There has been a lot of comparison between bitcoin and gold in the recent times. Bitcoin has been compared to gold in many aspects. In fact, bitcoin is also called digital gold for a reason due to various similarities it shares with the yellow material. However, referring to bitcoin as a gold standard may not be relevant. The gold standard is a reference to the monetary system that was based on the value of gold. While most countries stopped following the gold standard....