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As bitcoin develops, the biggest cryptocurrency trades more like gold, a shop of value, as confirmed by the 2 properties' close connection with each various other this year.
This relationship is most likely to hold, said Mike McGlone, commodity planner at Bloomberg Knowledge, and the very same macroeconomic forces pressing gold higher are likely to drive bitcoin as well.
So if bitcoin is beginning to trade like gold, a store of value, and also much less like a threat possession however has a lot more upside possible, the concern comes to be: is gold still worth acquiring? McGlone reviews in this interview.
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$100k bitcoin price by 2025; is gold still worth buying? - Bloomberg Intelligence
As bitcoin matures, the largest cryptocurrency trades more like gold, a store of value, as evidenced by the two assets’ close correlation with each other this year.
This correlation is likely to hold, said Mike McGlone, commodity strategist at Bloomberg Intelligence, and the same macroeconomic forces pushing gold higher are likely to drive bitcoin as well.
So if bitcoin is starting to trade like gold, a store of value, and less like a risk asset but has more upside potential, the question becomes: is gold still worth buying? McGlone discusses in this interview.
__________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
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