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Market efficiency of gold and Bitcoin
Bitcoin and gold are fundamentally similar as scarce and globally accessible units of value. But gold’s recent market supply squeeze highlights important distinctions between the two assets. The recent challenges of the gold market reveals Bitcoin’s distinct advantage over gold: Bitcoin does not rely on fragile physical supply chains and is truly globally accessible. According to the LA Times on March 24, “The gold market in New York is facing a historic squeeze as the global pandemic chokes off physical trading routes at the same time that investors are piling into the metal as a safe haven.” As airlines, ... (full story)
