Gold and bitcoin look "very vulnerable" to a rising real interest rate environment that could leave the two assets looking like "flightless birds", according to Barclays Wealth Management & Investments' CIO Will Hobbs.
Gold has long been seen as a hedge against equity risk, while bitcoin has been gaining traction as a potential gold-alternative, with investment management firm Ruffer claiming their recently purchased position in the cryptocurrency protected them against monetary risks they saw as being elevated. The bitcoin price continues to climb, as many other institutions have begun dipping their toes in. The asset climbed to a fresh record high of over $48,000 after Tesla said it had invested $1.5bn of the cash on its balance sheet in the cryptocurrency. Twitter and Mastercard said they were consi...
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