There have been many arguments as of late about which asset is better: bitcoin or gold.
Bitcoin and Gold Seem to Be on Equal Terms
At press time, they both appear to be doing the exact same thing. Both have taken nasty falls due to panic surrounding the coronavirus, and both are failing to live up to their “safe haven” reputations.
But is it fair to suggest that neither of these assets are “safe havens?” Can such status be taken away from them given that they are suffering – like all assets – from a global fear that has not yet subsided? Not everything thinks so.
Tyler Winklevoss – the co-founder and CEO of the Gemini Exchange in New York – explained on Twitter that both gold and bitcoin are exhibiting the same behavior as of late, and that both should be considered equal in terms of value and vulnerability. Regarding how new it is to the financial space, Tyler wrote: Read More...