Bitcoin’s Correlation With Gold-Backed PAXG Token Weakens to Record Low

“This reflects BTC’s increasing correlation with macro stock indices as well as its recent behavior as a risk asset rather than a store-of-value, and points to price turbulence ahead as markets digest the impact of further inflation and liquidity withdrawals,” Noelle Acheson, head of market insights at CoinDesk’s sister concern Genesis Global said. Source link

Trump’s Fed Nominee Advocates a Gold-Backed Currency, Even a Crypto One

President Donald Trump’s nominee for the Federal Reserve board of governors is reiterating her advocacy for the gold standard — and adding digital currency into the mix. In an interview May 20, Judy Shelton told reporters: “I don’t see it so much as returning [to the gold standard], more like ‘back to the future.’ I […]