Unstable Bitcoin price to pivot investment flow to gold, mining chief says
Evolution Mining’s executive chairman said gold and Bitcoin could coexist, but the latter is not yet mature enough to deliver the established safe haven assurance of the latter. Jake Klein, CEO of Australian gold mining establishment Evolution Mining, has said that crypto price volatility will make gold a far more attractive proposition.Speaking to CNBC on Thursday, Klein argued that Bitcoin (BTC) is still ways away from offering the longstanding security associated with gold from a hedge investment perspective, despite Bitcoin's returns outsizing gold by several orders of magnitude in the....
Related News
Gold should help crypto investors hedge against the risks of highly unstable prices of cryptos like Bitcoin, the CEO of Newcrest Mining said. Sandeep Biswas, managing director and CEO at Newcrest Mining, believes crypto investors should consider buying some gold to protect themselves against highly unstable prices of cryptos like Bitcoin (BTC).“If you’re into cryptos, you want to consider having some gold,” Biswas said on Bloomberg TV Thursday, stressing that gold is less volatile than crypto.The exec emphasized that gold is a different class of investment. “It’s a tangible asset: you can....
The chief investment officer of global investment firm Skybridge Capital says bitcoin still has more upside than gold. While expecting both gold and bitcoin to rally, he said his hedge fund is sticking to bitcoin. Asset Manager Skybridge Prefers Bitcoin to Gold Troy Gayeski, co-chief investment officer (CIO) and senior portfolio manager at Skybridge Capital, a $7.5 billion hedge fund, says gold is good but bitcoin is better, Bloomberg reported Sunday. He believes that both gold and bitcoin are likely to rally even as the Federal Reserve moves to taper asset purchases, elaborating:....
"There are many reasons why the price of Bitcoin can rise or fall, but S2F is not one of them”, contends report author. A report authored by the research team of ByteTree purports to debunk one of the most popular Bitcoin (BTC) valuation models — Stock-to-Flow. The model provides a very optimistic forecast for Bitcoin, claiming that a year from now we should see price levels above $100,000.Source: Glassnode.BytTree’s co-founder and chief investment officer, Charlie Morris, dedicates the entire fourth chapter of the report to “debunking” it. The stock-to-flow models have been applied for....
According to crypto analytic firm ByteTree, the popular stock-to-flow model is not a reliable indicator for Bitcoin’s long term price action. The stock-to-flow model is flawed, says Charlie Morris, co-founder and CIO of crypto data firm ByteTree. According to the popular theory developed by quantitative analyst Plan B, Bitcoin’s capped supply is the key feature that will bring its price over $100K in 2021, and beyond. However, as explained by Morris in a recent report, a progressive squeeze of new supply won’t be enough to cause Bitcoin’s appreciation. According to Morris, the....
Blackrock’s Chief Investment Officer, Rick Rieder, said cryptocurrency, including bitcoin, “is here to stay.” In addition, he said bitcoin is a durable mechanism that could replace gold. Blackrock on Bitcoin and Gold Rick Rieder, Blackrock’s Chief Investment Officer (CIO) of Global Fixed Income, talked about bitcoin replacing gold in an interview with CNBC’s Squawk Box on Friday. Blackrock is the world’s largest asset manager, with more than $7.4 trillion in assets under management as of September. Rieder is also Blackrock’s Head of the Global....