Greyscale study: Bitcoin is more than 50 per cent relevant to gold

According to the greyscale study, the 90-day correlation between bitcoin and gold has risen to more than 50 per cent, reflecting the fact that bitcoin is gradually being seen as a scarce currency asset rather than as a mere high-risk investment in technology. The report noted that investors might reconsider the investment role of bitcoin as concerns about the United States debt and fiscal deficit resurfaced. At the same time, the relevance of Bitcoin to NASDAQ 100 declined from over 60 per cent to about 33 per cent。