Cryptocurrencies are close to reaching a big milestone versus gold by one Wall Street firm’s count

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Its those speculators, reminds when Nixon said we were coming off the gold standard because of speculators

  • The total value of the cryptocurrency market is now above $2 trillion, putting it nearly on par with the amount of gold held as an investment, according to Bernstein.
  • Crypto supporters often cite the potential for bitcoin to rival gold as a long-term store of value.
  • “Investors need to find return streams that can hedge debasement risk and be a diversifier of equity risk at higher levels of inflation,” Bernstein said, noting that cryptocurrencies can fit the bill.
  • When the value of gold for other purposes is also considered, the precious metal’s market is still significantly larger.
  • The total value of the cryptocurrency market now stands above $2 trillion, putting it on nearly equal footing with the amount of gold held for private investment purposes, according to a new report from Bernstein.



Cryptocurrencies near big milestone vs. gold by one Wall Street firm’…
archived 19 May 2021 09:57:34 UTC

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