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Bitcoin buyers should hedge with gold: Biswas – The Australian Financial Review
Three of Australia’s top gold bosses say cryptocurrencies won’t steal gold’s safe-haven status and the forces driving record Bitcoin prices are good for gold.
If you look at the volatility of bitcoin and other cryptocurrencies, it is probably not a bad thing if you own cryptocurrencies to hold gold as well to reduce some of the volatility because gold is much less volatile and has a fundamental inherent physical value that cant be substituted by the internet.
Evolution Mining executive chairman Jake Klein said prices for gold and Bitcoin were often being driven by the same thing; quantitative easing in many advanced economies.
Gold has been mined for…
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