Tether CEO Paolo Ardoino Says to Avoid Disaster, Hold Bitcoin and Gold. Is He Right?
No strategy is immune to downside, but Ardoino is onto something.
Overview
On Aug. 20, in a post on X (formerly Twitter), Tether Chief Executive Officer Paolo Ardoino riffed on a clever equation that speaks deeply to the reasons that many investors bother holding Bitcoin (CRYPTO: BTC) and gold assets like the SPDR Gold Shares ETF (NYSEMKT: GLD), stating that "Bitcoin + Gold = hedge against doom." Bitcoin is up 23%, and gold is up 15% during the 30 days ended Aug. 25, amid market jitters over inflation and economic disruption from the U.S.-Israeli war with Iran.
But is that just a coincidence, or is it evidence supporting what Ardoino was getting at?
Image source: Getty Images.
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Originally published at www.fool.com.
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