According to Deep Tide TechFlow, on November 24, CNBC reported that George Milling-Stanley, chief gold strategist of the world’s largest physical gold ETF SPDR Gold Shares (GLD), stated that the recent rise of Bitcoin may give investors a false sense of security.
Data shows that on the 20th anniversary of GLD, the increase this year has reached 30%, with gold futures prices rising to $2712.20, just 3% away from 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. He believes that over the next 20 years, the price of gold is expected to surpass $100,000. He thinks the crypto industry deliberately uses terms like 'mining' to mimic the properties of gold, but Bitcoin lacks the stability of gold.
