Analysts say bitcoin is now being perceived as an inflation-hedge and an asset with a potential to give mouth-watering returns quickly. Foreign research house Jefferies, for the first time, has included bitcoins in its asset allocation for pension funds. Unlike gold, bitcoin is extremely volatile. Some analysts in the bearish camp also draw parallels between the current bitcoin rally with that of 2017. "Since both gold and bitcoin have finite supply, the bitcoin/gold ratio gives us a sense about which of the two is currently overvalued.

Source: Mint January 01, 2021 09:56 UTC