Crypto currencies such as Bitcoin are not "the new gold," said Goldman Sachs, advising investors that precious metals will remain a relevant asset class in their portfolios.
The use of precious metals as a shelter is not a historical precedent and still remains the best long-term asset that, unlike crypto-lows, has a physical form of acquisition. The rise of bitcoin is significant and the fact that the amount of earned battle is limited causes many investors to consider it a valuable asset.
Goldman is of the opinion that crate portfolios are vulnerable to uncertainty in the market given their nature. "This kind of portfolio is not like that of stock and some people can easily get your crypto-currencies."
Some regulators like the Japanese have allowed Bitcoin to be used as a means of payment, with more countries trying to follow this example. For this reason, the bank believes that crypto-points would be more appropriate for payments than for hedging of standard stock portfolios.
The gold investment is not the subject of competition for Bitcoin. Instead of focusing on gold, it is better to pay attention to the rest of the crypto market. Bitcoin's main competitors remain Eteherium, Dashcoin and Monero.
"Gold keeps high purchasing power during crises and has a much lower daily volatility than Bitcoin, which can eradicate 30% per day without any serious ground"
Source: Bloomberg Pro Terminal
Jr Trader Petar Milanov
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