Some Investors See Bitcoin Better Than Gold, Morgan Stanley Says
- Strategist says he’s getting more queries about bitcoin trade
- Bitcoin is still an ‘immature currency,’ Tom Price says
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Bitcoin’s meteoric rise is leading some investors to argue that bitcoin is a better hedge against inflation and turmoil than gold, according to Morgan Stanley.
Tom Price, a London-based equity strategist, said he’s been fielding more cryptocurrency questions after prices recently soared past $4,000 a bitcoin, a fivefold increase from November 2016. Both bitcoin and gold offer similar benefits as a store of value, such as being fungible, durable, portable, divisible and scarce, but it’s too soon to call bitcoin a superior investment, he says.