Bank of America has reiterated that gold remains a safe investment, stating that it is more likely to see the precious metal hit $3,000 an ounce than a new all-time high for Bitcoin (BTC). The US bank has released a research note claiming that gold is a better hedge against inflation, “especially in the context of US government debt,” while also stating that there are better investment options than Bitcoin.
The bank added that “gold is seen as a better investment than Bitcoin since many expect the latter to potentially fall, especially due to the reported US PPI inflation of 1.8%, which is up from the expected 1.6%.” The bank states that gold remains solid under falling or even higher interest rates.
