RE: UDF18 Feb 2021 17:38
Rbrand,
gold is closely correlated with treasuries and currencies. Not really with bitcoin. Bitcoin is only at around 4% of gold Market Cap, so the scope is limited. Bitcoin is a more speculative (Highly volatile, low liquidity) and not a safe haven investment like gold (Low volatility, high liquidity). Therefore, I think bitcoin is an alternative to certain equities. Treasuries (Low volatility, high liquidity) and currencies (Low volatility, high liquidity) are the real flows in and out of gold. Hedging by miners/banks also plays a role in controlling the price.