Bitcoin has replaced gold in hedging …


Bitcoin Will Replace Gold

Bitcoin replaced gold in hedging ...

Bitcoin replaces gold in risk hedging – Deutsche Bank

  • Investors are increasingly looking to bitcoin as an analogue of gold

  • Unstable economic picture of the world is pushing many to consider bitcoin for hedging risks

  • Bitcoin is up 70% in the past six weeks

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The largest cryptocurrency by market capitalization, bitcoin, is increasingly used as a replacement for gold when hedging risks, noted in Deutsche Bank

Bitcoin has recently come to be used as an alternative to gold as a hedge against inflation and hedging risks associated with dollar devaluation. This is reported by Zero Hedger, citing a statement by Jim Reid, an analyst at Deutsche Bank.

Bitcoin has replaced gold in hedging ...

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As Reid notes, bitcoin has risen more than 70% in the past six weeks as many investors begin to see it “as a safe investment.”.

“There is also growing demand for bitcoin where gold has been used to hedge dollar risk, inflation and other things,” Reid said..

World recognition

The use of bitcoin as a store of value has been actively discussed with the onset of the coronavirus pandemic and the price war between Russia and Saudi Arabia (which led to a 34% collapse in US oil prices). Bitcoin also dropped to an annual low with the March drawdown in financial markets, but has since accelerated exponentially as an investment asset amid economic turmoil..

At the end of October 2020, analysts at JPMorgan Chase came to the conclusion that bitcoin could replace gold in the future as a defensive asset. According to experts, even a small displacement of gold as an alternative currency would mean doubling or even tripling the price of bitcoin..

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Bitcoin replaced gold in hedging ...

Bitcoin’s success did not go unnoticed. American financial giant Fidelity has concluded that Bitcoin can weather economic downturns better than stock markets in the next couple of years..

Also, Germany’s leading financial conglomerate predicts the end of the era of cash due to the emergence of central bank digital currencies (CBDC). German bank experts note growing trend towards digital currencies of central banks amid global lockdowns and social distancing measures.

At the time of this writing, the price of BTC / USDT is $ 17,671.

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