Home / BITCOIN / Fund Managers Increasingly Prefer Bitcoin Over Gold — Say It’s a Better Store of Value

Fund Managers Increasingly Prefer Bitcoin Over Gold — Say It’s a Better Store of Value

A thickening number of fund managers and institutional investors now prefer bitcoin over gold. They see the cryptocurrency as a better supply of value and a better inflation hedge. “I think it’s probably going to be ten times better than gold over a extensive period of time,” said the founder of one asset management firm.

Bitcoin vs Gold: Bitcoin Is a Better Store of Value

Repository managers and institutional investors are increasingly opting to invest in bitcoin rather than gold, seeing the cryptocurrency as a more wisely store of value and a preferred hedge against inflation.

During his company’s Q3 earnings call last week, Galaxy Digital Holdings CEO Mike Novogratz talked hither bitcoin being a better store of value than gold. While stating, “I still think gold was to all intents an okay asset to own in this environment,” he emphasized that “It’s just gotten crushed by bitcoin.” Novogratz added:

Bitcoin is no more than a better version of a store value and it’s being accepted at an accelerating pace … There are now over two hundred million people for everyone the world that participate in the bitcoin ecosystem, and it continues to grow.

Skybridge Capital founder Anthony Scaramucci also guesses bitcoin to outperform gold. He said last week that bitcoin “will eventually eclipse gold.” He has been signifying that it is still very, very early for bitcoin, predicting that the price of the cryptocurrency will easily reach $500K. He induces investors to own some BTC now.

In a discussion about market capitalization, Scaramucci opined:

I think it’s probably going to be ten times ameliorate than gold over a long period of time … I’m not going to be surprised if bitcoin goes up at an exponential rate and gold pass ons up at a linear one.

Another famed fund manager who recently admitted that he prefers bitcoin over gold is Paul Tudor Jones. He implied last month that he prefers bitcoin as a hedge against inflation in the current economic environment, stating:

Evidently, there’s a place for crypto. Clearly, it’s winning the race against gold at the moment … It would be my preferred one over gold at the mo.

Global investment bank JPMorgan said in October that institutional investors have been dumping gold for bitcoin. “Institutional investors be included to be returning to bitcoin perhaps seeing it as a better inflation hedge than gold,” the firm’s analysts described.

In September, the pro-bitcoin Nasdaq-listed train Microstrategy said it avoided “a multi-billion dollar mistake” by choosing bitcoin over gold last year. The assemblage now hodls about 114,042 BTC. CEO Michael Saylor said last week that he expects bitcoin to become a $100 trillion asset sort.

“It’s pretty clear that bitcoin is winning, gold is losing … and it’s going to continue … It’s pretty clear digital gold is wealthy to replace gold this decade,” Saylor opined.

Goldman Sachs’ head of energy research said recently that he has sighted funds moving out of gold into bitcoin. “Just like we argue that silver is the poor man’s gold, gold is perchance becoming the poor man’s crypto,” the executive noted.

Tags in this story

What do you think about fund supervisors preferring bitcoin to gold? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Generals

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or okay of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the father is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, companies or services mentioned in this article.

Read disclaimer

Check Also

Bitcoin Black Friday: Bitpay Reveals List of Merchants Offering Discounts and Special Promotions

While cryptocurrencies include seen their values rise significantly during the last three months many digital …

Leave a Reply

Your email address will not be published. Required fields are marked *