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.1, GDX, GLD,
Keywords: presidential elections, retail investors, gold comex (apr'23), exchange-traded funds, gold mining and refining, stock markets, vaneck gold miners etf, investment strategy, precious metals industry, wall street, bitcoin/usd coin metrics, markets, donald trump, spdr gold shares, bitcoin, business news, cryptocurrency, personal investing, mining, investors,
Source: https://www.cnbc.com/2024/11/23/bitcoin-vs-gold-state-street-worries-about-crypto-rally.html