Veteran trader Peter Brandt on Sunday said he is considering selling some of his Bitcoin (CRYPTO: BTC) to buy gold, arguing the metal is poised to gain substantially against the cryptocurrency.
Why Brandt Is Making This Call Now
Bitcoin fell 20% in June to below $60,000, its worst monthly performance in four years.
Gold dropped 11.7% over the same stretch but held near $4,000 per ounce. Year-to-date the gap is even wider, with BTC down 28% against a 3.9% decline for gold.
“I am contemplating selling some of my Bitcoin and going to Gold with the money. Looks to me that Gold is going to gain substantially on Bitcoin,” Brandt wrote on X.
