TechFlow news, on November 24, according to CNBC, George Milling-Stanley, chief gold strategist at SPDR Gold Shares (GLD), the world's largest physical gold ETF, said that Bitcoin's recent rally might give investors a false sense of security. Data shows that as GLD marks its 20th anniversary, it has risen 30% year-to-date, with gold futures prices reaching $2,712.20—just 3% below the all-time high set on October 30.
Milling-Stanley noted that gold was priced at only $450 twenty years ago and has since increased fivefold, suggesting that over the next 20 years, gold could potentially surpass $100,000. He argued that the crypto industry deliberately uses terms like "mining" to mimic gold's attributes, but Bitcoin is fundamentally just a return-seeking investment vehicle lacking the stability of gold.
