Gold is outperforming Bitcoin and elevated risk assets
The rise of digital currencies such as Bitcoin (BTC) has shone a new light on gold’s role as a store of value. While the two assets have different risk profiles and correlations, many investors are increasingly gravitating toward BTC — mainly on account of its ability to deliver immense returns. Opinions are split on the matter — whereas financial educator Robert Kiyosaki, for example, recommends holding both, precious metal analyst Peter Spina deemed the digital asset’s role as ‘digital gold’ an utter failure. Both investments have seen significant price action throughout 2024. At press time, BTC is trading at $66,640 — year-to-date (YTD) gains stand at 57.88%, although trading has been choppy since late September. The cryptocurrency has frequently and unsuccessfully been testing the psychologically important price point of $70,000. Picks for you ...