Bitcoin's trading behavior currently resembles high-growth tech stocks rather than gold, according to a new report by Grayscale. The report highlights that Bitcoin's recent price movements are closely correlated with high-valuation software company stocks, declining when risk assets are sold off. Grayscale's Head of Research, Zach Pandl, suggests that Bitcoin is not yet a safe-haven asset, but its limited supply and decentralized nature could position it as "digital gold" in the long term. At 17 years old, Bitcoin is still establishing its status as a global monetary asset.
Grayscale Report: Bitcoin Trades Like Tech Stocks, Not Gold
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