- Bitcoin is more like gold than the US dollar, Jeff Currie, Goldman Sachs' head of commodities research, said in an interview with Bloomberg TV.
- Bitcoin doesn't have the same amount of liquidity as gold though, which is the primary difference between the two.
Bitcoin is a commodity, just like gold, according to Goldman Sachs' Jeff Currie, global head of commodities research.
Currie laid out his simple thinking behind why he sees bitcoin as a commodity, instead of a security or a currency, in an interview with Bloomberg TV:
Currie's argument is that bitcoin doesn't answer to anyone. The price is set by the market and isn't backed by a central government, public company or private entity, just like gold.
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Bitcoin is much more volatile than gold, however, and Currie explains that liquidity is the main cause of this. There is $8.3 trillion worth of gold above ground, while bitcoin has a market cap closer to $165 billion, making it much more volatile and much less liquid.
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