Experienced Expert: “Cryptocurrencies Are Not an Alternative to Gold” – Explained What Bitcoin Actually Tracks

Permanent Portfolio Funds President and Portfolio Manager Michael Cuggino stated that rather than being an alternative to gold, cryptocurrencies show a closer correlation with the technology sector and loose monetary ￰0￱ to CNBC, Cuggino argued that investors should keep in mind that these two asset classes are not the same and respond to different ￰1￱ News: US Democrats Propose Anti-Cryptocurrency Bill - Here Are the Details Cuggino stated that there was a time when he thought Bitcoin and other cryptocurrencies would replace gold, but currently, both are ￰2￱ noted that crypto's short 10-15-year trading history has generally shown a greater correlation than gold's performance with funds tracking technology indices (Triple Qs) and periods of loose monetary policy.

Cuggino, noting that gold is a very long-cycle asset, explained that its recent strong performance is based on macro ￰3￱ factors include the likely downward trend in Fed interest rate policy, geopolitical issues, central bank purchases, and the expectation that real interest rates may trend negative. *This is not investment ￰4￱ Reading: Experienced Expert: “Cryptocurrencies Are Not an Alternative to Gold” – Explained What Bitcoin Actually Tracks