Bitcoin has been making a lot of headlines these days, and the mainstream adoption is going great, Just the other day, we were revealing that Twitter is going crazy with excitement, and more important figures in the crypto space already noted that Elon Musk charged his bio. So did Jack Dorsey.
Check out a relevant post below – it seems that these moves are the ones triggering the massive bull run.
It’s happening. #Bitcoin becomes the flag of technology, and all web services gradually get rebuilt on crypto.
— balajis.com (@balajis) January 29, 2021
Investing in gold without holding BTC is a mistake
Bloomberg Intelligence’s senior commodity strategist Mike McGlone said that investing in gold without holding Bitcoin as well can leave investors exposed to market risks.
During a new interview with Stansberry Research, McGlone said that in this rapidly digitizing world, gold is not an appropriate hedge on its own.
“Looking forward in a world going digital, I see Bitcoin is adding competition to gold. But I see Bitcoin should actually be in that same bucket because if you’re holding only gold, I feel it’s a little bit naked without Bitcoin,” he said.
He also said that Bitcoin is the “new version of gold.”
“The key risks for anybody looking forward in gold is I see gold positions somewhat naked if they’re not paired with some Bitcoin. Because Bitcoin is the new version of gold,” he explained as cited by the Daily Hodl.
He continued and concluded by saying that “And I see that, I sense it. And a lot of the indicators show those flows are going that way. Some of the old guard gold bugs and gold flows have headed towards Bitcoin. It makes sense. I mean, let’s look to the future.”