According to Deep Tide TechFlow news on November 24, as reported by CNBC, George Milling-Stanley, Chief Gold Strategist of the world's largest physical gold ETF fund SPDR Gold Shares (GLD), stated that the recent rise of Bitcoin may give investors a false sense of security. Data shows that as GLD celebrates its 20th anniversary, it has risen by 30% this year, and the price of gold futures has reached $2712.20, just 3% shy of the historical high set on October 30.
Milling-Stanley pointed out that 20 years ago, the price of gold was only $450, and it has now increased fivefold. Based on this calculation, the price of gold is expected to exceed $100,000 in the next 20 years. He believes that the cryptocurrency industry deliberately uses terms like 'mining' to mimic the properties of gold, but Bitcoin is essentially just an investment tool in pursuit of returns, lacking the stability of gold.
