Bitcoin-Gold Correlation Hits Six-Year High as Debasement Fears Mount

Bitcoin Magazine Bitcoin-Gold Correlation Hits Six-Year High as Debasement Fears Mount Bitcoin’s correlation with gold is at its highest in six years as investors increasingly look for ways to hedge against currency debasement. That’s according to a new report from Bitwise, which this week pointed out that the precious metal and leading cryptocurrency are trading in lockstep because the U.S. government has “materially intervened in the macro picture.” Bitcoin started surging last month, after the U.S. Treasury Department said it would more than double the size of its…

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Source: Bitcoin Magazine