Summary
- Goldman Sachs evaluated that Bitcoin is less effective as a hedge asset than gold due to its high volatility.
- Bitcoin has recorded high returns in recent years but has a greater correlation with the stock market than gold.
- Struyven predicted that the price of gold will reach $4,000 per ounce by mid-2026.
A global commodities analyst at the investment bank Goldman Sachs has stated that gold is a better hedge asset than Bitcoin (BTC).
According to The Daily Hodl on the 28th (local time), Daan Struyven, a global commodities analyst at Goldman Sachs, said, "Bitcoin, with its limited supply, can provide investors with confidence as an inflation hedge asset similar to gold," but argued that "gold is a more effective hedge asset than Bitcoin."
He particularly mentioned the volatility of Bitcoin and its correlation with the stock market. Struyven noted, "Bitcoin has recorded higher returns than gold in recent years, but it is highly volatile and vulnerable to price declines," adding, "Its correlation with U.S. tech stocks is greater than that of gold." He further explained, "Both Bitcoin and stocks are assets that rise when risk appetite increases," and "gold will be a more effective means to hedge against stock market decline risks."
Meanwhile, he predicted that gold will trade at $4,000 per ounce by mid-2026. Currently, the price of gold is around $3,310 per ounce.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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