Gold’s Gain Is Bitcoin’s Loss

For the past few years, the


gold


industry has been on the defensive against a new threat: cryptocurrencies. No longer.

Advocates of crypto argued that Bitcoin was a better version of gold because its supply is even more limited than for the yellow metal, and it’s more appealing to a new generation. The theory was that Bitcoin would hold up as well as or better than gold in times of hyperinflation. What’s more, people can carry all their Bitcoin on their smartphone. Try doing that with a brick of gold.