According to Odaily Planet Daily, Edmund Moy, senior IRA strategist at the U.S. Monetary Reserve, said that Bitcoin and gold are both alternative assets that can reduce the risks of traditional investment portfolios.
Although Federal Reserve Chairman Powell called Bitcoin "like gold," Moy believes that the two are "more different than they are similar" and are not strongly correlated.
Moy pointed out that uncertainty in the coming year is a reason for investors to hold Bitcoin and gold, but diversification cannot completely eliminate risk, especially considering Bitcoin's volatility.
