BARRON'S: Bitcoin Is Why You Should Buy Gold

 

In this week's print edition, Barron's Randall Forsythe updates his readers on the story of Bitcoin, the virtual currency that saw its value balloon and burst in a matter of days.

He sees the story as a reflection of skepticism towards fiat money as the world's central banks print away.

Forsythe thinks all of this makes for a bullish case for gold.

"t is incongruous that gold—money that can't be printed, just minted—would enter a bear market Friday," he writes.

Indeed, gold had a very ugly Friday.

Here's more from Forsythe's piece "Bitcoin for Your Thoughts? Buy Gold":

The rush to the Bitcoin may have been a speculative bubble, but it may also represent an inchoate search for an alternative to government-controlled paper currencies.

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