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Opinion
Tim Culpan

Gold, Bitcoin No Longer Frenemies in Coronavirus Era

The two assets used to run in lockstep during difficult times. But not after Covid-19 started to spread.

The coronavirus drives old frenemies apart.

The coronavirus drives old frenemies apart.

Photographer: Ulrich Baumgarten/Getty

There was a time when Bitcoin earned its stripes as a safe asset in times of crisis or uncertainty. 

Now, it seems that a global disease outbreak has proven too much for the premier cryptocurrency, with prices plunging over the past month.