TechFlow News: On February 11, Cryptopolitan reported that Grayscale’s latest research report states Bitcoin’s short-term price movements resemble those of high-growth tech stocks more than gold. During periods of market panic, investors tend to sell Bitcoin rapidly—a behavior highly correlated with the performance of overvalued software company stocks. Although Bitcoin has fallen over 50% from its October high of $126,000, Grayscale maintains that its limited supply and decentralized nature give it long-term potential to serve as “digital gold.” However, at just 17 years old, Bitcoin remains in its infancy compared to gold, which has thousands of years of history, and requires more time to prove itself as a global monetary asset.
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