State Street Global Advisors manages the largest real-collateralized gold ETF in the world. It is therefore not surprising that George Milling-Stanley is defending the precious metal’s positions. He emphasized that gold has a history of 6,000 years, during which the precious metal has repeatedly proven its reliability and value, while bitcoin is only a dozen years old.
“Bitcoin’s volatility only refutes claims that the first cryptocurrency is a long-term strategic asset and can compete with gold. Gold is a defense against inflation. Gold is insurance against a stock market crash. Gold is insurance against a weakening dollar. For me, historically, in a properly balanced portfolio, gold has helped drive investment returns,” Milling-Stanley emphasized.
Earlier, economist and author of the bestseller “Rich Dad, Poor Dad” Robert Kiyosaki repeatedly predicted a crisis in the global economy and urged to invest in gold and silver as well as bitcoin.