Worries about the rapid spread of the coronavirus is one factor boosting bitcoin, an asset that often has gone up when investors are nervous. "The recent bitcoin rally can be attributed to ongoing economic uncertainties," said Shaun Djie, CEO of digital token company Digix in comments e-mailed to CNN Business. Gold and bitcoin are up as investors don't seem convinced about last year's stock rally," said Marija Veitmane, senior multi-asset strategist with State Street in an interview with CNN Business. "Gold and bitcoin have become prominent alternatives for retail investors looking to safeguard their wealth." Investors considering bitcoin as a long-term investment should probably think of bitcoin much like gold.

Source: CNN February 01, 2020 17:48 UTC