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Why Bitcoin and gold can have a place in some portfolios
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Currently, 1 $Trump coin is worth around US$60, bringing the total market capitalisation of the 200 million tokens in circulation to nearly US$12 billion.
PHOTO: REUTERS
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SINGAPORE – Comments from US Federal Reserve chairman Jerome Powell that Bitcoin is “just like gold” have brought renewed focus on whether cryptocurrencies can be a sound investment.
Mr Powell said: “People use Bitcoin as a speculative asset. It is highly volatile. It is not a competitor for the dollar. It is really a competitor for gold.”
