First published by Money Metals Exchange here:
https://www.moneymetals.com/news/2021/12/08/gold-holding-up-as-cryptos-get-hammered-002422
As Bitcoin made new all-time highs in recent weeks, an increasing number of investors referred to it as the “new gold.” Sure, Bitcoin and other digital currencies may have some of the same potential benefits as gold, being alternative stores of value that exist outside the banking system. Cryptos are a far cry from hard money, however, and recent price action may be indicative of why.
