Bitcoin’s (BTC) parabolic surge in 2020 will not hurt major traditional assets like gold, according to Goldman Sachs (NYSE:GS).
One of the world’s biggest investment banks, Goldman Sachs reportedly sent a note to investors, reassuring its clients that Bitcoin does not pose an existential threat to gold, Bloomberg reports Dec. 18. “We do not see evidence that Bitcoin’s rally is cannibalizing gold’s bull market and believe the two can coexist,” the company wrote.