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Jeffries’ Chris Wood raises Bitcoin allocation at cost of gold
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economictimes.indiatimes.comChristopher Wood, Global Head of Equity Strategy at Jefferies, has added another five percentage point allocation to Bitcoin in addition to the existing five percentage allocation initiated in December 2020. Wood has done this by reducing the weightage in gold by five percentage points. In his weekly note to investors titled 'Greed and Fear', Wood said he is not giving up on gold yet but said it is risky for ageing gold bugs to ignore the reality that Bitcoin is a competitor to gold as a store of value. Wood said he is not going to put Ethereum in a pension fund portfolio as it is not a store of value asset, but it is likely to continue to outperform bitcoin in the coming months.
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