George Milling-Stanley, State Street Global Advisors’ head of Gold Strategy, has recently argued that investing in gold is a good option given current  concerns regarding the U.S. and China trade war, and noted he isn’t seeing a ‘flood of money out of gold into cryptos.’

Speaking to Yahoo Finance On the Move, Milling-Stanley noted that he’s hearing from a lot of advisors that their investors are asking them about them if investing in cryptocurrencies is a good idea. He stated:

I’m not seeing any flood of money out of gold into cryptos, and if there were, I don’t think the cryptocurrencies would have lost 80% of their value last year.

Per Yahoo Finance Milling-Stanley further added gold has been living up to its safe haven status, as it has been maintaining its value “when your stocks and bonds in your portfolio are going down.” This, despite the atmosphere of uncertainty in the stock market.

He noted the precious metal’s prices tend to go up when the stock and bond market go down, and predict more volatility in the dollar and stock market for the future, as stocks aren’t expected to keep rising for long. Milling-Stanley added:

I’m not saying stocks are going to fall off a cliff, but we’re looking for a lot more volatility this year, and I think that’s in line with most economic views. Gold tends to do well when everything else is more volatile

The strategist added that there is no “strong singal” to worry about a recession, although he noted gold is a good long-term investment. Per his words, over the last 50 years, on a compound annual growth rate basis, it returned 7.5% per year. As such, he believes intros should allocate “between 2% and 20%” of their portfolio to the precious metal.

Notably, as CryptoGlobe covered Tyler Winklevoss, co-founder and CEO of digital asset exchange Gemini, has revealed he sees bitcoin as “gold 2.0” and suggested the cryptocurrency could take some of the metal’s $7 trillion market cap.

Moreover Cameron Winklevoss, his twin brother and a co-founder of Gemini, revealed he believes investing in cryptocurrencies may be crazy, but is “definitely not as crazy as sitting on the sidelines when the future of money is literally being built before your eyes.”