Bitcoin tanks, gold rebounds as Israel vows Iran ‘will pay’ for attack
The price of Bitcoin fell about $4,000 after Iran fired some 180 ballistic missiles at Israel, escalating the conflict in the Middle East.
Update (Oct. 2 at 5:40 am UTC): A previous version of this article suggested Larry Fink’s comments about Bitcoin as an inflation hedge on Fox Business was recent. This has been amended to reflect the correct date.
Commodities including gold and crude oil rose as the specter of war looms in the Middle East. Still, Bitcoin is moving in the opposite direction, leading to renewed debate over whether it’s a safe-haven asset.
Gold prices gained 1.4% on the day to reach $2,665 per ounce on Oct. 1, just shy of its all-time high, according to Goldprice.org. Meanwhile, crude oil prices spiked as much as 7% to reach $72 per barrel.
Go to Source
Author: Martin Young
