Bubble Monitor 3/3/2022

Mar 14, 2022 | Bubble Monitor

Asset Class in Spotlight: Bitcoin

 

Gold and Bitcoin have been very highly correlated over the past 8 years, meaning that their price movements are very similar. This reveals why Bitcoin has come to be viewed as a hedge against the US dollar and other fiat currencies (currency issued by a government but not backed by a valuable commodity like gold). Since crypto currencies like Bitcoin are often thought of as “digital gold”, people seek them out to store their wealth without it being affected by inflation, the government or other turbulent world events.

 

 

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