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Bitcoin vs. gold: State Street worries the crypto rally's allure is distracting precious metal investors - TL;DR CNBC

Bitcoin vs. gold: State Street worries the crypto rally's allure is distracting precious metal investors

Publishing timestamp: 2024-11-23 11:00:01


Summary

The strategist behind the SPDR Gold Shares ETF warns that the bitcoin rally may be giving investors a false sense of security, as cryptocurrency plays do not offer the stability of gold. He suggests that investors who value gold's safety qualities should reconsider piling into bitcoin, as the crypto world may be trying to manipulate them. Gold just had its best weekly performance since March 2023, and the strategist believes that gold will continue to do well in the future.


Sentiment: NEUTRAL

Tickers: BTC.CM=@GC.1GDXGLD

Keywords: presidential electionsretail investorsgold comex (apr'23)exchange-traded fundsgold mining and refiningstock marketsvaneck gold miners etfinvestment strategyprecious metals industrywall streetbitcoin/usd coin metricsmarketsdonald trumpspdr gold sharesbitcoinbusiness newscryptocurrencypersonal investingmininginvestors

Source: https://www.cnbc.com/2024/11/23/bitcoin-vs-gold-state-street-worries-about-crypto-rally.html


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