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Cryptocurrencies can be highly volatile investments.
Since it appeared on the scene in 2009, Bitcoin (CRYPTO: BTC) has been one of the most valuable cryptocurrencies in the world but still swings anywhere from 20% to 30% — sometimes on a day-to-day basis. However, in the past six months, its value has dropped more than 50%.
Unlike Bitcoin, which is value-driven by demand and technology, cryptocurrency backed by gold has its value determined by the price or value of underlying assets to support it. And it’s much less volatile. What is available to investors is a more stable gold standard versus cryptocurrencies like Bitcoin, which is predominantly owned by companies such as Tesla Inc. (NASDAQ: TSLA), MicroStrategy …
Full story available on Benzinga.com