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Bernstein Calls Bitcoin (BTC) “Faster Horse” Compared to Gold

Tue, 04/11/2023 - 06:13
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Alex Dovbnya
Bernstein analysts have recently argued that favoring gold over Bitcoin is an irrational decision, likening the digital currency to a "faster horse" in comparison to the traditional safe-haven asset
Bernstein Calls Bitcoin (BTC) “Faster Horse” Compared to Gold
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In a recent report, Bernstein analysts have argued that favoring gold but not bitcoin is irrational, likening the preference to "hating on a faster horse."

The comments echo the sentiments of Galaxy Digital CEO Mike Novogratz, who asserted in 2022 that it's possible to be bullish on both assets as they offer protection against the debasement of fiat currencies.

Bitcoin's recent surge above the $30,000 mark has further fueled the conversation around the digital asset's potential as a store of value.

In early January, Bernstein analysts Gautam Chhugani and Manas Agrawal emphasized the resilience of Bitcoin, pointing out that the cryptocurrency has weathered two previous "winters" before the 2022 downturn.

In each instance, Bitcoin bounced back with exponential returns, suggesting that investing during times of crypto stress has a perfect track record.

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The analysts' observations highlight the potential long-term value of the flagship cryptocurrency as a standalone asset.

The comparison between the lustrous metal and Bitcoin has long been a point of contention among investors, with many debating the merits of the traditional safe-haven asset against the digital currency.

The recent price surge in the leading cryptocurrency has sparked renewed interest in cryptocurrency. Some investors view it as a viable alternative to gold for preserving wealth in times of economic uncertainty.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at