@BOMBERuss 20 October 2021 more from that month

American billionaire investor Paul Tudor Jones called the advantage of cryptocurrency over gold, CNBC reports. According to Jones, cryptocurrency is a better means of protection against inflation than gold. "Cryptocurrencies are clearly winning the race against gold. They can be a very good insurance against inflation. For me, they are preferable to gold," he said. Gold has lost eight percent over the past 12 months compared to bitcoin's annual gain of 437 percent. According to American billionaire Mark Cuban, cryptocurrencies have adopted many qualities of gold. The precious metal itself is "dead" as an asset and a means of saving. In turn, Pavel Grachev, CEO of the largest Russian gold mining company Polyus, noted that the nature of bitcoin and gold is very different. They have different groups of investors who will eventually move further apart from each other. Bitcoin, according to him, was created as a tool for calculations, and not as a means of accumulating and preserving capital. Investors often see gold as a way to protect themselves from inflationary risks, but the precious metal does not justify their hopes. "There is no guarantee that in the event of a surge in inflation, gold will also bring above—average income," explained Morningstar strategist Amy Arnott. #Cryptocurrency