Is Bitcoin The New Gold?
So says the dept. of economics at the University of Pretoria:
Bitcoin Is The New Gold: Study
Bitcoin, similar to gold, is a good hedge against global uncertainties like trade wars.
That’s according to a lengthy working paper out from the Department of Economics of the University of Pretoria, “Is Bitcoin the New Digital Gold? Evidence From Extreme Price Movements In Financial Markets.”
The paper tests a popular claim in the media that Bitcoin has joined the ranks of safe-haven assets. These are assets where investors place their cash at the time of growing global uncertainties, as they flee risky assets like stocks.