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Bitcoin is the new gold, said Thomas Fitzpatrick – a Managing Director in the giant multinational bank Citibank.

He also predicted that BTC could skyrocket to $318,000 per Bitcoin in the upcoming 13 months by exploring several historical price cycles and the ongoing economic uncertainties.

Fitzpatrick has spent 22 years as the Global Head of Citibank’s G10 Forex business arm called Citi FX Technicals. Apart from analyzing the foreign exchange market, though, he recently explored the performance of gold and Bitcoin as outlined by a popular cryptocurrency commentator.

The Managing Director at Citibank emphatically noted in the report that “Bitcoin is the new gold.”

He highlighted BTC’s limited supply and digital form as two of its most distinctive features. Bitcoin also “moves across borders easily and ownership is opaque.” That last point is “very relevant” as “the huge Fiscal deterioration of today has a cost in the future, either directly or indirectly.”

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