Wood believes that Bitcoin is an competitor to yellow metal in its capacity to store worth and comes that has a built-in tightening capability because of the halving process approximately every four years.

Christopher Wood, the Global Director of Equity Strategy at Jefferies, has added a five percentage points allocation for Bitcoin on top of the current five percent allocation that was introduced on December 20, 2020. Wood achieved that by decreasing the weightage of Gold to five percent.

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In his weekly letter to investors entitled “Greed and Fear’, Wood declared that he’s not ready to give up on gold just yet, but warned that it’s dangerous for the aging gold buggers to overlook the fact of the fact that Bitcoin is a viable alternative with gold for a storage medium of value.

By Mike Francis

Mike Francis is an American news Journalist for 9 years and has become an expert in Journalism. Mike has been writing as an author for more than 10 years, even after he continued to be Journalist, he never left his writing career behind. Now Mike is a superior Journalist and author at Daily Reuters.

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