Cryptocurrencies

Bitcoin’s Claim of Rivaling Gold as Portfolio Hedge Loses Luster

Wild swings in price, swoon in face of CPI, among setbacks
Crypto regulatory scrutiny also growing, may hamper tokens

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Galaxy’s Novogratz Says ‘I Bought Bitcoin, Ethereum on the Dip’

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By Eric Lam and Ranjeetha Pakiam

May 21, 2021 at 8:33 AM UTC

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One-day swings of 31%. A slump amid a jump in U.S. inflation. Ever more critical regulatory scrutiny. Bitcoin delivered all of these in the past few days, undermining its claimed role as a portfolio hedge rivaling gold.

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