Cryptocurrencies are no replacement for gold
We often get asked about cryptocurrencies and whether they represent a potential replacement for gold, as well as what role, if any, bitcoin should play in a portfolio.
Gold Focus: Items tagged with "bitcoin "
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The curse of cash and the allure of gold
In his book The Curse of Cash, leading economist Ken Rogoff suggests that excessive reliance on paper money is responsible for ills ranging from tax evasion to terrorism. He also believes that monetary policy would be more effective in a largely cashless society. Cryptocurrencies are not an effective replacement for paper money, he says, but gold’s role is likely to increase as cash fades from view.
World Gold Council
Market development organisation
Investment Update: Cryptocurrencies are not a safe-haven
In Q4 2018, as global stock markets experienced their worst quarter since 2009, cryptocurrencies had a prime opportunity to demonstrate qualities associated with safe havens like gold. However, cryptocurrencies, such as bitcoin, behaved like risky assets and fell while gold rallied.