Bitcoin Beats Gold in Safe Haven Battle as Coronavirus Death Toll Rises .com

Fears of a global coronavirus pandemic appear to have revived the narrative of bitcoin being digital gold. For the first time this year, bitcoin’s 60-day correlation to gold flipped positive on Monday, according to Bloomberg.

Bitcoin’s most ardent supporters claim their favorite cryptocurrency is a form of ‘digital gold’ that enables the preservation of wealth in the face of economic risks like recession and hyper-inflation. Monday’s Bloomberg report suggests that may be changing as bitcoin and gold show stronger correlation.

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