Chief Gold Strategist of State Street Global: Cryptocurrencies cannot replace physical objects because they are vulnerable to huge losses

Odaily Planet Daily News George Milling-Stanley, chief gold strategist at State Street Global Advisors (SSGA), an asset management company, believes that cryptocurrencies cannot replace physical objects because they are prone to huge losses. Milling-Stanley said this week that volatility does not support any claims of cryptocurrencies as long-term strategic assets that rival gold. It is reported that the company operates the world's largest gold ETF. As of Friday's close, the ETF was up 7% this year. (CNBC)