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Coffee And Crypto: Newsletter Morning Brew Boots Gold For Bitcoin

As part of the continued demonization of gold at the hands of Bitcoin, the precious metal that was once the hard money standard has received the boot from popular daily email newsletter Morning Brew.
Due to the rising popularity of Bitcoin, gold has been completely replaced with a price ticker instead for the leading cryptocurrency by market cap. Here’s why this is such a big thing, and why this is just one win of many more to come.
Bitcoin Deals Blow To Gold As Crypto Becomes Common Coffee Talk
The ongoing “digital gold” narrative has taken the momentum out of gold’s bull run, and converted it into rocket fuel for Bitcoin. In less than one year, the cryptocurrency’s market cap rose from under $200 billion to more than $1 trillion and climbing.
Over time, it’s expected to eat away at gold’s $10 trillion market cap, and it already has put an end to the precious metal’s bull run in 2020. Just as gold began to peak, outflows from hedge funds went directly into the scarce crypto asset, which was expected to outperform gold by a substantial margin.
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Those who bet on Bitcoin, were ultimately correct. Since the big breakout beyond the 2017 peak, the cryptocurrency asset class has gone through a secular shift, where institutions and a completely different asset class have begun to include the emerging technology within their previously traditional …
Story continues on Bitcoinist

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