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Wood believes Bitcoin is a competitor to the yellow metal as a store of value and it is one with a built-in quantitative tightening dynamic due to the halving process roughly every four years
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Bitcoin | cryptocurrency | Chris Wood Jefferies
Puneet Wadhwa |
Last Updated at November 4, 2021 19:01 IST
The appeal of gold as a safe-haven asset and a long-term investment seems to be diminishing with crypto-currencies taking centre stage.
After taking an exposure to Bitcoin in December 2020, Christopher Wood, global head of equity strategy at Jefferies has now increased exposure to the crypto by 5 percentage points (ppt) in his Asia ex-Japan portfolio and pared his investment in gold by equal measure. “The arrival of the Bitcoin ETF in America, and the growing mainstream acceptance of crypto, means that it is timely for GREED & fear to make a further adjustment to the global …
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First Published: Thu, November 04 2021. 19:01 IST
