Often times Bitcoin is hailed as digital gold and considered more valuable than gold.
However, unlike Goldman Sachs Head of Commodity Studies, Jeff Currie, who thinks that ‘digital gold’ should not be associated with cryptocurrencies, instead it is more worthy of being seen as ‘digital copper’.
Clearly, the fluctuating value of a cryptocurrency causes its value to differ significantly from that of gold, although there is no denying both are inflationary protectors.
"Cryptocurrency is more suitable to be compared to copper because it is risky," he said in an interview with CNBC media platform.
Such inflation hedges, which include copper and oil, are hedges for ‘good inflation’ in the wake of rising demand.
Gold, meanwhile, is a hedge against adverse inflation caused by changes in supply.
