Bank of Singapore says Bitcoin could replace gold as store of value

posted 30 days ago
Bitcoin could replace traditional safe haven assets like gold, according to the Bank of Singapore.

Mansoor Mohi-uddin, the bank’s chief economist, wrote in a research note that the finite supply of Bitcoin meant investors are increasingly looking towards it to bolster their portfolios. However "investors need trustworthy institutions to be able to hold digital currencies securely. Second, liquidity needs to improve significantly to reduce volatility to manageable levels,” Mr Mohi-uddin said.
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