Gold becomes the crypto of the poor man - economy
Gold becomes the crypto of the poor man - economy
The head of Goldman Sachs' energy research says: "As we argue that silver is the gold of the poor people, gold may become the crypto of the poor people." He sees that Gold Gold is flowing into Bitcoin because the fear of inflation escalates and states: "In the past, we have argued that crypto and gold do not have to get into each other."
Goldman Sachs about gold and Bitcoin
Damian Courvalin, Head of Energy Research at Goldman Sachs, spoke in an interview with Bloomberg on Thursday about the prospects for gold and crypto.
He was asked whether he saw evidence that investors use other assets, including Bitcoin and cryptocurrencies, to protect against inflation as gold. "I think it actually starts," he replied, adding: "We historically argued that crypto and gold do not have to get into each other."
He admitted that "it is a fact that we have seen a substitution recently," he said:
The way we argue that silver is the gold of the poor man, gold may become the crypto of the poor man.
Courvalin continued: "There could be enough assets at this point to assign both, especially, I think that this inflation signal is becoming increasingly urgent."
The manager stated: "The value of crypto is its network, just like the value of oil is the fact that it is consumed. It does not have gold, like diamonds and art. It is only a purely defensive asset that can achieve an outperformation over a longer period of time."
The Goldman boss of Energy Research continued to find that investors invested in gold when China banned cryptocurrencies. Many people have switched from gold to Bitcoin. In October, the billion-dollar hedgefonds manager Paul Tudor Jones called , "of course there is a place for crypto. It is clear that it is currently winning the race against gold ... it would be my favorite for gold at the moment." He emphasized that "crypto is here to stay". In the same month, JPMorgan , "Institutional investors seem to be Bitcoin to return, maybe you see it as a better protection against inflation than gold. ” The company also doubled to its long-term Bitcoin price for Bitcoin as an alternative Gold. In the meantime, some people like both gold and Bitcoin. The author of Rich Dad Poor Dad, Robert Kiyosaki, has recommended both Bitcoin and gold, for example. In his latest forecast, he warned of a huge market crash, followed by a new depression. He recommended Bitcoin. “ What do you think of the comments of the Goldman Sachs manager? Let us know in the comment area below. Bedy verification : Shutterstock, Pixabay, Wiki Commons
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