Bitcoin is more like risky digital copper than gold as an inflation hedge, Goldman Sachs’ top commodities analyst says
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Investors should view digital currencies as a substitute to copper, rather than gold, Jeff Currie, global head of commodities research at Goldman Sachs, told CNBC on Tuesday.
“You look at the correlation between bitcoin and copper, or a measure of risk appetite and bitcoin, and we’ve got 10 years of trading history on bitcoin – it is definitely a risk-on asset,” Currie told CNBC’s “Squawk Box Europe.”
He said both bitcoin and copper work as “risk-on” inflationary…
