Features Crypto News by Thebittimes.Com

The Ethereum blockchain co-founder, Vitalik Buterin, insisted in a recent tweet that crypto is a better bet than gold, which is not only inconvenient, but difficult to use as well. While Buterin asserts that such characteristics make gold less appealing, some crypto opponents argued that gold is better, because unlike the Ethereum blockchain, it is not controlled by only a few entities. Decentralized Issuer of Money The Ethereum blockchain co-founder, Vitalik Buterin, waded into the crypto-versus-gold debate after he posted a tweet suggesting that the former is a better bet than the precious metal. In his Oct. 26, 2022 tweet, Buterin slates author Zach Weinersmith’s assertion which implies that gold fits well with what crypto enthusiasts are advocating for. As suggested by Weinersmith in his tweet posted on the same day, the only meaningful argument put forward by crypto advocates is their call for a decentralized money-issuing authority. Still, the author wondered why gold, given...

Amid the economic uncertainty affecting a myriad of countries worldwide, Bank of America Securities market strategists explained in a note this week that the leading crypto asset bitcoin has been correlated with the well known precious metal gold. Bank of America analysts Alkesh Shah and Andrew Moss noted “that investors may view bitcoin as a relative safe haven as macro uncertainty continues.” Bank of America’s Market Strategists Say Bitcoin’s Rising Correlation With Gold Indicates ‘Investors May View Bitcoin as a Relative Safe Haven’ Market strategists from Bank of America’s securities division, Alkesh Shah and Andrew Moss, detailed this week that bitcoin and gold have been highly correlated in recent times. The news follows the recent report published by the crypto data provider Kaiko, which says bitcoin has been less volatile than the Nasdaq and S&P 500 indices. According to the Bank of America strategists, bitcoin’s (BTC)...