Posted 3/13/2024, 9:35:00 AM
Bitcoin and Gold Prices Surge to New Highs for Different Reasons
- Bitcoin is surging due to SEC approval of spot ETFs and upcoming "halving" event that will make supply more scarce
- Gold prices being driven up by central bank buying sprees as they diversify reserves away from weakening US dollar
- Both assets hitting new record highs, but for different reasons related to macroeconomic environment
- Bitcoin attracting more mainstream investors compared to gold's traditional "safe haven" status
- Analysts say simultaneous rises likely a coincidence, with different factors driving each asset's gains