Looks like it. While BTC was aggressively down last month, physical gold ETF’s experienced their strongest month since September 2020.

Investors’ appetite for gold increased as they assessed higher inflation and a major price crash in the Bitcoin market.

Note: This is not financial advice. You should consult your accountant or your financial advisor for any decisions you make.

Read the entire article here https://cointelegraph.com/news/bitcoin-sell-off-likely-played-a-key-role-in-boosting-gold-s-appeal

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