Opinion
Why gold is rallying and bitcoin is not
Gold has hit a record high as investors seek insurance against stubborn inflation, but bitcoin has been dealt a blow this week as rate cut hopes have dimmed.
Karen MaleyColumnistBitcoin enthusiasts often argue that one of the digital currency’s many virtues is its ability to act as a safe haven asset, fulfilling the role that gold has traditionally played.
But bitcoin’s claim to be the equivalent of digital gold, which holds its value as government-issued currencies lose their purchasing power, has been thrown into question by the events of the past month.
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