Bitcoin advocates have long claimed that the cryptocurrency has much in common with gold. They envision a world in which traders flock to it in times of stress and use it to store value over time. Now, war in Ukraine is testing that argument in real time.
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Now, Russia's war in Ukraine, which has roiled markets, is testing that argument in real time. The problem? Supporters and skeptics alike say it proves their point.What's happening: The price of gold has surged almost 5% since the invasion of Ukraine two weeks ago. Before long, it could surpass the all-time high of $2,072 per troy ounce it reached in August 2020.Bitcoin is trading about 4% higher.
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