State Street Global Advisors' chief gold strategist, George Milling-Stanley, has criticized Bitcoin's recent rally, stating that investors are mistaking its rise for stability. Milling-Stanley argues that Bitcoin is purely a return play and does not compare to the time-tested safety of gold. While gold continues to deliver, Bitcoin has stolen the spotlight with its surge in recent weeks. The two assets are heading in different directions, with Bitcoin gaining momentum and gold showing signs of profit-taking. Milling-Stanley accuses crypto promoters of trying to diminish gold's shine by using mining terminology for Bitcoin. Despite his skepticism, Bitcoin appears unstoppable, with Republican Senator Cynthia Lummis proposing a plan to create a strategic Bitcoin reserve by selling some of the Federal Reserve's gold holdings. This plan, however, faces challenges in Congress.



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