RATE Group | Gold Still Ultimate Recession Hedge, Not Bitcoin
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Gold Still Ultimate Recession Hedge, Not Bitcoin

22 Oct Gold Still Ultimate Recession Hedge, Not Bitcoin

Posted at 09:34h in Bitcoin News by

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If you have perused crypto Twitter over recent months, you have probably noticed a trend: Bitcoin is being seen by investors and analysts — both on Wall Street and on Main Street — as a potential safe haven in the ongoing trade war.

In fact, an analysis by Quant Fiction (the nom de Twitter of GM engineer and hobbyist data scientist Brian Blandin) found that institutional investors have increased the frequency of their tweets about Bitcoin. He found that Twitter users identifying as being a “portfolio, fund, asset, or wealth managers” are mentioning both “Bitcoin” and “risk-off”/”safe haven” twice as much as they were at the start of the year, based on a sample of 171 individuals with an average follower count of 55,217.

Gold, Not Bitcoin

According to a prominent financial analyst, however, it isn’t Bitcoin that safe haven-seeking investors should be focusing on, it should be gold.

Speaking to commodities-centric news outlet Kitco in a recent interview, GAMCO…

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