Elhedery: Gold Beats Cryptocurrency as Inflation Hedge

HSBC chief executive Elhedery said at a financial summit that gold, as a safe-haven asset, can provide diversification for risk asset portfolios and has long proven able to hedge against inflation, with intrinsic value from industrial or jewellery uses. He believes cryptocurrency is a risk asset with no intrinsic value, and its use as an inflation hedge has not stood the test of time.