In parallel with Bitcoin's surge, a debate has emerged among the financial community: Will Bitcoin replace gold as a new safe haven?
JP Morgan is among the latest to compare Bitcoin to digital gold and suggests the flow of money into Bitcoin will be to the detriment of gold in its report predicting Bitcoin to hit $146,000 in the near future. Bitcoin may well take speculative investment demand from gold, but will not replace gold's portfolio allocation as the inflation and financial crisis hedge of choice. Volatility aside, the two markets are incomparable in terms of market size, market dynamics and historical monetary significance. Seeing both sides of the same coin: Wealth managers split on Bitcoin amid growi...
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