Bitcoin and Gold Can Work Together to Offset Inflation — Market Talk
Bitcoin and gold are two sides of the same coin, according to Steve Neamtz of Yorkville America in a note. He says bitcoin as 'digital gold" simply doesn't have the benefit of time in the market to determine how it may behave in the course of financial stress, whereas gold has had thousands of years to "demonstrate its value as a reserve asset." But both will work for investors attempting to hedge against currency debasement. "None of this requires picking a side," he says. "Central banks are buying gold on infrastructure that already exists; institutions are buying bitcoin on infrastructure still being built--the same debasement logic, two different stages." Bitcoin falls 1.9%, while gold is off 1.6%. ([email protected])