Gold Is Better Portfolio Diversifier Than Bitcoin: Goldman Sachs

Gold Is Better Portfolio Diversifier Than Bitcoin: Goldman Sachs
Gold bars at Korea Gold Exchange in Seoul, South Korea, on Aug. 6, 2020. Kim Hong-Ji/Reuters
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Goldman Sachs expects gold, with its real demand drivers, to outperform the highly volatile bitcoin in the long term, the bank wrote in a Monday research note.

Gold is less likely to be influenced by tighter financial conditions, meaning it is “a useful portfolio diversifier,” said Goldman, especially given that gold has developed non-speculative use cases while bitcoin is still looking for one.