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Bitcoin’s Sharp Rise Shows Its Hedge in a Crisis Potential for Investors, But Only Gold Is Safe, Executive Affirms

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Bitcoin's Sharp Rise Shows Its Hedge in a Crisis Potential for Investors, But Only Gold Is Safe, Executive Affirms

Bitcoin's Sharp Rise Shows Its Hedge in a Crisis Potential for Investors, But Only Gold Is Safe, Executive Affirms

Peter Boockvar, the Chief Investment Officer of the Bleakley Advisory Group, has made some very interesting remarks on a recent interview with CNBC. According to the CIO, Bitcoin (BTC) could be used in order to inform investors who are currently worried about how the United States-China Trade War can harm their business.

He talked about the current weakness of the stocks market and affirmed that Bitcoin’s price and trends could signal that prices are about to drop, including the price of the USD. However, he does not believe that Bitcoin is the best investment and rather inform people that they should buy gold instead.

Boockvar is, after all, known for liking gold as an investment. He believes that it is a good and strong asset, unlike Bitcoin, which is too speculative. However, he did believe that Bitcoin could be used to understand market sentiment. If BTC is going up because people are afraid, for instance, this can be a good hint.

According to him, Bitcoin is only useful as a signalized because he really rather own gold than some digital token, as he is simply not a big BTC investor. He affirmed that the price of the token went up in materialization of the investors’ fear about the future.

Recently, the price of Bitcoin shot up to the moon and it briefly reached $9,000 USD. While some considered this a proof of BTC’s big strength, Boockvar is not really so convinced. He echoed the comments of several gold enthusiasts saying that BTC is a fad and that gold is here to stay.

He did agree that there is some kind of correlation between BTC and gold, so it is interesting to watch the token in order to understand the market better. He finished by affirming that he does not really care about Bitcoin as an asset, only as a signal about if the price of gold is going to go up.

Bitcoin Dwarfs Gold

Whatever Boockvar says, the truth is that Bitcoin often dwarfs the price of gold. The token went up over 200% this year, something that gold has never done recently. While gold is stable, its price do not skyrocket as Bitcoin does.

Even if you account for the bear market that Bitcoin has suffered some times, it is still a great investment because its prices are always higher than they used to be like five years ago, and not only by a small percentage, they are often way bigger.

Investors interested in investing only in gold should know that they may be losing an important chance to make a lot of money investing in the BTC market.

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