Investing
Crypto’s Rapid Rise Means Investors Need Gold, Top Miner Says
- Newcrest CEO says metal can act as a hedge against volatility
- Bitcoin hit record this week following Tesla Inc.’s investment
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The astonishing rise of cryptocurrencies, including red-hot Bitcoin, just handed one of the world’s leading gold miners one more reason to urge investors to buy the age-old haven that is bullion.
“If you’re into cryptos, you want to consider having some gold,” Newcrest Mining Ltd. Chief Executive Officer Sandeep Biswas told Bloomberg TV after the Melbourne-based company reported earnings on Thursday. Bullion “may act as a bit of a hedge against the volatility of cryptos,” he said.