Famous economics professor, column in Forbes: Bitcoin is the new gold

Famous economics professor Panos Mourdoukoutas wrote in his column in Forbes, based on the latest developments, that Bitcoin is the new gold.

Mourdoukoutas wrote:

North Korean dictator Kim Jong-un launches missiles over Japan. China is trying to write its own navigation rules in the South China Sea. Washington is in turmoil. Global debt continues to rise. And central banks continue to keep interest rates close to zero.

Global uncertainty is increasing, but gold is still not being collected.

Bitcoin is the new gold.

Once, gold was a hedge against uncertainty, an asset where investors could park their cash in times of political and economic turmoil.. Bitcoin is now replacing gold, as has been proven in recent months.

The shares of Bitcoin Investment Trust have increased 10x in the past twelve months, and 80 percent in the last three months. rose more than. However, SPDR Gold shares are down 0.68 percent in the past twelve months and 3.19 percent in the last three months.

Bitcoin appears to be more popular with investors than gold as a hedge against increasing global uncertainties.

Increasing distrust in national currencies following uncertain government policies pushed people to Bitcoin.

…

Mourdokoutas continued in the article, with the examples of Venezuela and India, Bitcoin in the turmoil of people. It solidifies the thesis that it is directed to

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