Gold, the traditional store of value, may have a rival. Photo: Shutterstock

Is bitcoin becoming the new gold as investors seek shelter from trade war in safe havens?

  • Some analysts argue that bitcoin’s role as a store of value is turning it into digital gold, a view shared by Fed chairman Jerome Powell
  • Since late May, the price movements of the cryptocurrency and the precious metal have trended up in tandem amid concerns about global growth
Topic |   Bitcoin

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Gold, the traditional store of value, may have a rival. Photo: Shutterstock
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Zhou Xiaochuan served as the governor of the People’s Bank of China (PBOC) for over 15 years until 2018. Photo: EPA

China’s response to Facebook’s Libra could be ‘Hong Kong style’ cryptocurrency, says ex-central bank governor

  • Former People’s Bank of China governor Zhou Xiaochuan suggests Beijing could delegate issuance of digital currency to commercial entities
  • Speech in Beijing this week shows that China is rethinking its digital currency strategy
Topic |   Facebook Libra

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Zhou Xiaochuan served as the governor of the People’s Bank of China (PBOC) for over 15 years until 2018. Photo: EPA
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