Is Bitcoin’s digital gold status an ‘utter failure’?
Following Bitcoin’s (BTC) crash in the wake of growing conflict between Israel and Iran, questions have emerged regarding the asset’s ability to emulate gold and serve as a hedge in an environment dominated by geopolitical disputes. In this light, a prominent analyst in the precious metals sector has suggested that after Bitcoin’s latest price movement, the asset’s promise to serve as “digital gold” has become a disappointment, Peter Spina said in an X post on October 2. Spina shared data comparing Bitcoin to gold over the last several years to support this assessment, highlighting a notable disparity in performance. Picks for you Crypto traders lost over half a billion dollars in market crash 1 hour ago ...