HSBC's Georges Elhedery Says Gold Beats Cryptocurrency as Inflation Hedge
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4 November 2026, Ming Pao Daily Economic Report: Speaking at a financial summit, HSBC Group Chief Executive Georges Elhedery said gold, as a safe-haven asset, can provide diversified allocation for risk asset portfolios and has long proven its ability 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. The event so far is limited to these remarks, with no subsequent developments seen.
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- 明報·每日經濟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.
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