Quantcast
news.com.au 23 Nov, 2021 04:15 am

Bitcoin not replacing gold as hedge against inflation; Hillary Clinton’s crypto warning

Bitcoin not replacing gold as hedge against inflation; Hillary Clinton’s crypto warning
Speculation that bitcoin would be used by investors as a hedge instead of gold looks unlikely despite horror US inflation.

Australian Securities and Investments Commission chairman Joe Longo has warned people about investing in cryptocurrencies.” ASIC warns crypto investors are ‘on their own’ Australian Securities and Investments Commission (ASIC) chairman Joe Longo this week also warned people about investing in crypto.Picture: Supplied Despite the sell-off, some of the money might be moving from bitcoin to the smaller altcoins.Picture: Supplied “What looks like a very interesting and somewhat exotic effort to literally mine new coins in order to trade with them has the potential for undermining currencies, for undermining the role of the dollar as the reserve currency, for destabilising nations, perhaps starting with small ones but going much larger,” she said, Forbes reported.

Hillary Clinton warns bitcoin is ‘undermining the dollar’ However, former US secretary of state Hillary Clinton issued a warning about bitcoin at Bloomberg New Economy Forum in Singapore recently.Bitcoin briefly passed the $US69,000 ($A95,000) barrier.

Read full story at news.com.au