Gold’s prospects seem to dim as Bitcoin’s glitter
“It seems like we’re in the middle of a simultaneous awakening among institutions to Bitcoin as an uncorrelated store of value assets,” he said.
The observations from experts come after a unique flippening earlier this week: as of Friday, a single Bitcoin is worth more than a 20-ounce gold bar.
Still, for all the bearish price action and Bitcoin’s ascendancy, certain high-profile gold bugs refuse to budge on their positions. In a Tweet yesterday longtime Bitcoin skeptic and gold investor Peter Schiff claimed that once investors “understand” the inflation risk, they’ll return to bullion: