According to TechFlow, on November 24, CNBC reported that George Milling-Stanley, chief gold strategist of SPDR Gold Shares (GLD), the world's largest physical gold ETF fund, said that Bitcoin's recent rise may give investors a false sense of security.
Data shows that on the 20th anniversary of GLD's establishment, the increase this year has reached 30%, and the gold futures price has risen to US$2,712.20, just 3% away from the historical high set on October 30.
Milling-Stanley pointed out that the price of gold was only $450 20 years ago, and it has increased fivefold now. In the next 20 years, the price of gold is expected to exceed $100,000. He believes that the encryption industry deliberately uses terms such as "mining" to imitate the properties of gold, but Bitcoin lacks the stability of gold.
