Tuesday, October 31, 2023

Bitcoin As Substitute For Gold In Times Of Uncertainty


Bitcoin's price rose in the last two months on global geopolitical uncertainty.

Gold's price remained dormant, only to rise in the recent two weeks on the Israel - Hamas tensions.

It seems Bitcoin is taking over more and more of the statute of gold as a safe haven.

Bitcoin and gold are both undervalued. 

Bitcoin's intrinsic worth is 100 000 USD at the moment, while gold's intrinsic worth is 2 500 USD a troy ounce, according to Wolfteam Ltd.

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