What are the 3 assets most correlated with Bitcoin?
Bitcoin price is closely linked to several financial assets but the reasons for correlation with certain precious metals and stocks can be quite different. Go to Source
gold
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Zimbabwe central bank close to introducing gold-backed digital tokens into retail
Physical and digital gold tokens have been a big success as investments and an inflation hedge in Zimbabwe, which continues to face triple-digit inflation. Go to Source
Bitcoin vs. gold: Are market cap and other comparisons actually relevant for investors?
Bitcoin’s future price surge and mainstream adoption could happen independently of institutional adoption of the digital currency. Go to Source
Bitcoin, Ethereum bears are back in control — Two derivative metrics suggest
Given the uncertainty in the macroeconomic environment, Bitcoin price bulls have no reason to bet against a six-week descending wedge pattern. Go to Source Powered by WPeMatico
Amid ‘Regulatory Apparatus’ Against Crypto, Paul Tudor Jones Maintains Bitcoin Allocation
In a recent interview, the renowned investor Paul Tudor Jones expressed his perspective on bitcoin, acknowledging that there might be regulatory challenges ahead. However, Jones emphasized his unwavering commitment to the dominant cryptocurrency, affirming that he maintains “a small diversification” in his investment portfolio and always will. Paul Tudor Jones on Bitcoin: ‘I’m Sticking With … Read more
Bitcoin a top 3 asset in the event of US debt default: Survey
Bitcoin would be a more popular safe haven than the U.S. dollar, the Japanese yen or the Swiss franc, according to a new survey. Go to Source Powered by WPeMatico
Zimbabwe sells millions of gold-backed crypto tokens despite IMF warning
The Reserve Bank of Zimbabwe’s first gold-backed cryptocurrency sale has been a success. Go to Source Powered by WPeMatico
IMF Says Zimbabwe Gold-Backed Digital Currency a Potential Threat to Financial Stability
The International Monetary Fund has urged Zimbabwean authorities to weigh the benefits versus risks of issuing a gold-backed digital currency. Instead of using gold-backed digital currency to limit the demand for the greenback, the global lender said monetary authorities should consider liberalizing the foreign exchange market. Risks to Macroeconomic and Financial Stability The International Monetary … Read more
Central Bank’s Gold Purchases Make ‘Record Breaking Start’ in Q1 2023; 228.4 Tonnes Added to World Reserves
Central banks have continued to consistently purchase gold during the first quarter of 2023, according to the latest report of the World Gold Council (WGC), the global gold statistics organization. Central banks added nearly 230 tonnes of gold to their national reserves, representing a 176% rise compared to the purchases made in Q1 2022. World … Read more
Bitcoin Provides Insurance Against Fiat Currency Failure, Says Validus Power Corp.’s Greg Foss
On May 4, in a recent Youtube video, Validus Power Corp.’s executive director, Greg Foss, discussed the potential for the banking industry’s failures to wipe out $10 trillion in equity. Foss expressed his support for “hard assets” such as real estate, gold, and bitcoin. He believes that bitcoin, the leading crypto asset, is one of … Read more