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

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

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By Eric Lam (News) 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.