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Citigroup: Gold is "Losing Its Luster" Compared With Cryptocurrency

Amy Liu

Summary: Citigroup  released a new report saying that gold's dominance is being replaced by cryptocurrencies. Citigroup analysts, including Aakash Doshi, stated in the report that gold investment activity may have turned to net outflow, which seems to be due to the expansion of the investor base and the preference of some institutional investors for digital alternative ...

Citigroup  released a new report saying that gold's dominance is being replaced by cryptocurrencies. Citigroup analysts, including Aakash Doshi, stated in the report that gold investment activity may have turned to net outflow, which seems to be due to the expansion of the investor base and the preference of some institutional investors for digital alternative assets. 

Doshi pointed out in the report that although a few months do not represent a structural trend, the liquidity impact appears to be good for cryptocurrencies and undermines gold's performance in 2021.

By Amy Liu

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