The Gold 2.0 narrative is becoming more stable and is no longer a substitute for tech stocks.

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Bloomberg ETF analyst Eric Balchunas stated that Bitcoin volatility is continuously approaching gold levels, a trend that the market has underestimated. He pointed out that institutional investors prefer Bitcoin to become a diversified asset similar to gold rather than a substitute for high-volatility tech stocks; for a long time, "excessive volatility" has been the biggest obstacle for investors to allocate to Bitcoin, so the decline in volatility and the increased correlation with gold are significant for Bitcoin's long-term adoption.
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