Investors Ditching US Dollar For Bitcoin, Gold: Citadel CEO
According to Citadel founder Ken Griffin, investors are moving away from the US dollar and putting their funds into safe havens like gold, silver, and Bitcoin. The move, called a debasement trade, has Griffin worried about a “substantial asset inflation away from the dollar.” The increase in gold and Bitcoin investments has further pushed the de-dollarization agenda, which has seen significant subscribers over the last decade. Are Bitcoin and Gold Further Pushing the De-Dollarization Movement? Image: Watcher Guru The increase in gold and Bitcoin investments is apparent in the recent price surges for both assets. Bitcoin (BTC) hit an all-time high of $126,080 on Oct. 6. Gold rose to a new peak of $3,977.19 earlier today, Oct. 7. The pivot from the US dollar could be due to macroeconomic uncertainties arising from geopolitical tensions and trade wars. Bitcoin (BTC) and gold are expected to continue their respective upward trajectories over the coming months. October has also h...