Rebecca Patterson, the director of investment research at Bridgewater Associates, said bitcoin could be better compared to gold than a currency due to the similarities between both assets, thus, supporting the digital gold argument.
In a recent interview with Bloomberg, Patterson said she wouldn’t call bitcoin an alternative currency, I think if anything, it’s an alternative to gold or digital gold. I think that would be the better comparison.”
Despite calling BTC an alternative to the precious metal, Patterson added that the cryptocurrency would have to prove its digital gold status.
“As institutional investors, we don’t know yet if it’s going to be digital gold, it may be over time, but I don’t think we can say that with confidence yet. And that affects whether or not our client should own it,” she added.
