A growing number of fund managers and institutional investors now prefer bitcoin to gold. They see cryptocurrency as a better store of value and a better hedge against inflation. “I think it will probably be ten times better than gold over a long period of time,” said the founder of an asset management company.
Bitcoin vs Gold: Bitcoin is a better store of value
Fund managers and institutional investors are increasingly choosing to invest in bitcoin over gold, seeing cryptocurrency as a better store of value and a preferred hedge against inflation.
During his company’s third-quarter earnings call last week, Galaxy Digital Holdings CEO Mike Novogratz said bitcoin was a better store of value than gold. While stating, “I still think gold was probably an acceptable asset to own in this environment,” he stressed that “it just got crushed by bitcoin”. Novogratz added:
Bitcoin is just a better version of a store value and it is being accepted at an accelerating rate… There are now over two hundred million people around the world participating in the bitcoin ecosystem, and it continues to grow. grow.
Skybridge Capital founder Anthony Scaramucci also expects bitcoin to outperform gold. He said last week that bitcoin “will eventually eclipse gold.” He said it is still very, very early for bitcoin, predicting that the price of the cryptocurrency will easily reach $ 500,000. He urges investors to own BTC now.
In a discussion of market capitalization, Scaramucci said:
I think it will probably be ten times better than gold over a long period of time… I won’t be surprised if bitcoin is growing at an exponential rate and gold at a linear rate.
Another famous fund manager who recently admitted he preferred bitcoin to gold is Paul Tudor Jones. He said last month that he prefers bitcoin as a hedge against inflation in the current economic environment, saying:
Obviously, there is a place for crypto. Clearly it’s winning the race against gold right now… That would be my favorite at gold right now.
Global investment bank JPMorgan said in October that institutional investors had thrown gold against bitcoin. “Institutional investors appear to be reverting to bitcoin, perhaps viewing it as a better hedge against inflation than gold,” the company’s analysts described.
In September, the pro-bitcoin company listed on Nasdaq Microstrategy said it avoided “a multibillion-dollar mistake” by choosing bitcoin over gold last year. The company now holds around 114,042 BTC. CEO Michael Saylor said last week that he expects bitcoin to grow into a $ 100,000 billion asset class.
“It’s pretty clear that bitcoin is winning, gold is losing… and it’s going to continue… It’s pretty clear that digital gold is going to replace gold this decade,” Saylor said.
Goldman Sachs head of energy research recently said he saw funds shift from gold to bitcoin. “Just as we argue that silver is the poor man’s gold, maybe gold is becoming the poor man’s crypto,” the executive noted.
What do you think of fund managers who prefer bitcoin to gold? Let us know in the comments section below.
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