{"id":14282,"date":"2021-11-14T03:54:04","date_gmt":"2021-11-14T03:54:04","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/goldman-sachs-gold-is-becoming-poor-mans-crypto\/"},"modified":"2021-11-14T03:54:04","modified_gmt":"2021-11-14T03:54:04","slug":"goldman-sachs-gold-is-becoming-poor-mans-crypto","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/goldman-sachs-gold-is-becoming-poor-mans-crypto\/","title":{"rendered":"Goldman Sachs: Gold Is Becoming Poor Man\u2019s Crypto"},"content":{"rendered":"

Goldman Sachs\u2019 head of energy research says, \u201cJust like we argue that silver is the poor man\u2019s gold, gold is maybe becoming the poor man\u2019s crypto.\u201d He sees funds starting to flow from gold into bitcoin as inflation fears escalate, noting that \u201cWe\u2019ve argued historically that crypto and gold do not have to cannibalize each other.\u201d<\/strong><\/p>\n

Goldman Sachs on Gold and Bitcoin<\/h2>\n

Damian Courvalin, Head of Energy Research at Goldman Sachs, talked about the outlook for gold and crypto in an interview with Bloomberg Thursday.<\/p>\n

He was asked whether he sees any evidence of investors using other assets, including bitcoin and cryptocurrencies, to hedge against inflation other than gold. \u201cI think it\u2019s actually starting,\u201d he replied, adding: \u201cWe\u2019ve argued historically that crypto and gold do not have to cannibalize each other.\u201d<\/p>\n

Admitting that \u201cit\u2019s a fact, we have seen substitution recently,\u201d he detailed:<\/span><\/p>\n

Just like we argue that silver is the poor man\u2019s gold, gold is maybe becoming the poor man\u2019s crypto.<\/p>\n

Courvalin continued: \u201cAt this point, there may be enough wealth to allocate to both, especially, I think, as that inflation signal is starting to be more pressing.\u201d<\/p>\n

The executive noted: \u201cThe value of crypto is its network, just like the value of oil is the fact that it\u2019s consumed. Gold, like diamonds and art, doesn\u2019t have that. It\u2019s just a pure defensive asset that can outperform over a significant period of time.\u201d<\/span><\/p>\n

The Goldman head of Energy Research, further noted that when China banned cryptocurrencies, investors moved into gold.<\/p>\n

Many people have turned from gold to bitcoin amid inflation fears. In October, billionaire hedge fund manager Paul Tudor Jones said<\/a>, \u201cClearly, there\u2019s a place for crypto. Clearly, it\u2019s winning the race against gold at the moment \u2026 It would be my preferred one over gold at the moment.\u201d He emphasized that \u201ccrypto is here to stay.\u201d<\/p>\n

In the same month, JPMorgan said<\/a>, \u201cInstitutional investors appear to be returning to bitcoin perhaps seeing it as a better inflation hedge than gold.\u201d The firm also doubled down<\/a> on its long-term bitcoin price prediction of $146K for bitcoin as an alternative to gold.<\/p>\n

Meanwhile, some people like both gold and bitcoin. Rich Dad Poor Dad author Robert Kiyosaki, for example, has been recommending both bitcoin and gold. In his latest prediction, he warned of a giant market crash followed by a new depression. He recommended<\/a>, \u201cBe smart: Buy, gold, silver, bitcoin.\u201d<\/p>\n

What do you think about the comments by Goldman Sachs\u2019 executive? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nEconomics, Bitcoin vs gold, gold vs bitcoin, Goldman Sachs, goldman sachs bitcoin, goldman sachs gold<\/p>\n","protected":false},"excerpt":{"rendered":"

Goldman Sachs\u2019 head of energy research says, \u201cJust like we argue that silver is the poor man\u2019s gold, gold is maybe becoming the poor man\u2019s crypto.\u201d He sees funds starting to flow from gold into bitcoin as inflation fears escalate, noting that \u201cWe\u2019ve argued historically that crypto and gold do not have to cannibalize each…<\/p>\n","protected":false},"author":0,"featured_media":14283,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-14282","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/14282"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=14282"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/14282\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/14283"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=14282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=14282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=14282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}