Opinion: bitcoin volatility makes gold investment more attractive

September 23, 2021

bitcoin volatility makes gold investment more attractive

Bitcoin has not reached the stage of maturity to compete with gold as a safe haven asset. The CEO of gold mining company Evolution Mining, Jake Klein, said this on CNBC.

According to the top executive, the first cryptocurrency has "a long way to go" to show the "longevity and security" inherent in gold.

Klein is convinced that bitcoin's price volatility will eventually cause investors to return to gold.

According to Woobull Charts, the first cryptocurrency has an annual volatility of 9.1 times that of the base metal.

Bitcoin has not

In the interview, Klein allowed the two assets to continue to coexist. He did not support the position that bitcoin threatens gold.

Recall that in May, experts at JPMorgan predicted a shift of capital from the first cryptocurrency to the precious metal amid a correction. A similar position was presented by colleagues at Societe Generale.

At the end of 2020, CoinShares analysts allowed funds to flow from gold ETFs to cryptocurrency-based funds.

I have collected the best-rated crypto exchanges that were approved as the safest platforms. Fees when buying and selling Stellar Lumens.

About the author

Hi there, my name is Zalman Weinberg. I'm enthusiast with over 7 years of experience in cryptocurrencies and blockchain. Professional Trader providing Blockchain solutions to Startups and Enterprises. Expert in all cryptocurrency exchange APIs (BitMEX, Bittrex, Binance, Bitfinex, Kraken, Poloniex, Gdax etc.). I have also worked with multiple Forex broker APIs.

Leave a Reply

Your email address will not be published. Required fields are marked

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}
This site is registered on wpml.org as a development site.