Odaily Planet Daily News According to Edmund Moy, Senior IRA (Individual Retirement Account) Strategist at US Money Reserve, the main distributor of precious metals produced by the US Federal Government, BTC can be seen as a competitor to gold on the surface because they are both alternative assets that can help mitigate risk in traditional investment portfolios. Cryptocurrency enthusiasts have long touted BTC as ‘digital gold’, and Federal Reserve Chairman Powell recently stated that BTC is ‘like gold’.
Edmund Moy, ‘differences outweigh similarities’ and ‘the correlation between gold and BTC is not strong.’ Given the uncertainty of the next year, this may be the most compelling reason for investors to hold both. However, Edmund Moy also points out that investors seeking a diversified portfolio should remember that diversification alone cannot completely eliminate risks, especially considering the volatility of BTC. (morningstar)
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ABD Döviz Rezervleri Bürosu Stratejisti: BTC, altınla rekabet edebilir, ancak çeşitlendirilmiş yatırımlar riski tamamen ortadan kaldıramaz
Odaily Planet Daily News According to Edmund Moy, Senior IRA (Individual Retirement Account) Strategist at US Money Reserve, the main distributor of precious metals produced by the US Federal Government, BTC can be seen as a competitor to gold on the surface because they are both alternative assets that can help mitigate risk in traditional investment portfolios. Cryptocurrency enthusiasts have long touted BTC as ‘digital gold’, and Federal Reserve Chairman Powell recently stated that BTC is ‘like gold’. Edmund Moy, ‘differences outweigh similarities’ and ‘the correlation between gold and BTC is not strong.’ Given the uncertainty of the next year, this may be the most compelling reason for investors to hold both. However, Edmund Moy also points out that investors seeking a diversified portfolio should remember that diversification alone cannot completely eliminate risks, especially considering the volatility of BTC. (morningstar)