Gabelli Gold Funds analyst claims China and Russia are buying gold, not bitcoin- Bitcoin News

Gabelli Gold Funds analyst Chris Mancini claimed that the world's governments would turn to gold instead of Bitcoin in case of an economic crisis. The analyst is known for his negative stance on cryptocurrencies. Earlier, Mancini had called the leading cryptocurrency corrupt

Chris Mancini, the analyst of Gabelli Gold Funds in an interview with Kitco, said that countries like Russia and China are buying gold and not its digital competitor. He claims that countries would rely on gold in the time of the financial crisis.

He said governments are going to tie their currencies to gold if and when something really bad happens to the economy. Previously, Mancini called the leading cryptocurrency “corrupted” and the gold creation of the god. However, many from the crypto community, including Crypto influencer Max Keiser pointed out that the title “creation of the God” actually belonged to bitcoin and not gold.

The debate between gold and its digital competitor has reignited this year. Several analysts have claimed that bitcoin is better than gold as it has a bright future, and returns could surpass that of gold. On the other hand, some have dismissed bitcoin entirely for being too volatile.

ADVERTISEMENT
Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

Leave a reply

Please enter your comment!
Please enter your name here

Enable Notifications    Ok No thanks