CITIC Securities Research Report: The regularization of Crypto Assets may share monetary benefits with gold in the future.

On June 9, CITIC Securities Research Report said that cryptocurrencies have good privacy and anti-inflation, have grown rapidly since their birth, and are gradually being formally capitalized. With the expansion of the rigid demand for cryptocurrencies, a pattern of rigid demand support and speculative pricing similar to gold has been formed. However, in the short term, cryptocurrencies are more speculative due to insufficient monetization and high risk appetite among marginal pricers. In the medium to long term, both cryptocurrencies and gold are expected to benefit from the monetization brought about by deglobalization and de-dollarization. “Future Gold” does not necessarily include Bitcoin, but there is a high probability that there will be cryptocurrencies. In the short term, cryptocurrencies are expected to benefit from possible regulatory relaxation during Trump’s tenure, but they will need to wait for trade and foreign policy certainty.