Gold Obsolete? Analyst Sees 5% Bitcoin Hedge Allocation
An article by an analyst on Seeking Alpha suggests that AI may eventually render gold obsolete. The author believes that a 5% allocation to Bitcoin could be beneficial as a hedge against inflation and economic uncertainty.
The analyst, who has a beneficial long position in GLD (gold), IBIT (iShares Gold Trust), MSTR (Micron Technology), and ASST (Assa Abloy), notes that past performance is no guarantee of future results. The author also emphasizes that no recommendation or advice is being given as to whether any investment is suitable for a particular investor.
The article highlights the potential benefits of Bitcoin as a hedge against inflation, citing its limited supply and increasing adoption. However, it's worth noting that the analyst has a long position in gold-related assets and Micron Technology, which may be seen as conflicting with their recommendation to allocate 5% to Bitcoin.