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Jefferies' Global Head of Equity Strategy Sells Gold To Increase Bitcoin Exposure
Summary: According to an exclusive report by Business Standard, Christopher Wood, global head of equity strategy at Wall Street investment bank Jefferies, increased the cryptocurrency exposure in his Asian (except Japan) portfolio by 5%, while reducing the gold position by the same measure. Jefferies, which manages assets worth $440 billion, cut its gold exposure for the ...
According to an exclusive report by Business Standard, Christopher Wood, global head of equity strategy at Wall Street investment bank Jefferies, increased the cryptocurrency exposure in his Asian (except Japan) portfolio by 5%, while reducing the gold position by the same measure.
Jefferies, which manages assets worth $440 billion, cut its gold exposure for the first time last December to dip toes into Bitcoin.
Wood believes that Bitcoin has a built-in quantitative deflationary dynamic due to its halving, so it is a competitor to gold as a store of value.
By Mary Liu
Tags: Bitcoin,Christopher Wood,Gold,Jefferies
Link: Jefferies' Global Head of Equity Strategy Sells Gold To Increase Bitcoin Exposure [Copy]
