Jan VanEck Says Bitcoin (BTC) Holders View Gold as an ‘Excellent’ Investment Vehicle

2019-1-27 21:50

During a recent interview with CNBC, Jan Van Eck, CEO of premier investment management firm ‘VanEck’, revealed that his company was all set to withdraw its collaborative ETF application (submitted to the SEC) in the near future.

Not only that, over the course of the interview, he also revealed that the recent Government shutdown had prevented VanEck representatives from “actively conversing” with officials from the US Securities and Exchange Commission (SEC).

However, according to Jan, a critical piece of information that seems to have flown under the radar for many crypto enthusiasts recently is the fact that ‘investor demand for Bitcoin has begun to drop quite substantially over the course of the past few months’.

More on the Matter.

Citing a recent survey conducted by his firm, Jan noted that out of the 4,000 cryptocurrency investors that were recently interviewed by his company, a majority of them stated that

“Gold was their #1 investment vehicle for 2019”. As shocking as that might sound, even Tim Seymour of Seymour Asset Management agreed with VanEck’s poll and said that ”there’s no point in questioning gold’s hegemony as the de-facto go-to SoV”.

While opinions on the future of Bitcoin seem to vary across the globe, according to Dan Held, a former product manager at Blockchain.com, the premier cryptocoin is “intrinsically a Store of Value”.

Elaborating on his stance, Held has time and again said that Bitcoin’s core purpose has always been to serve as an efficient SoV— pointing to Satoshi’s original BTC whitepaper where the pseudonymous individual states that he viewed Bitcoin as a ‘long-term financial commodity quite like Gold and Silver’.

Final Take

Last but not least, Held is also of the opinion that Bitcoin’s underlying design itself has been devised (21 Million tokens, ten-minute blocks, and block size caps) for the currency to act as a value container rather than a mainstream payment alternative.

In this regard, he stated:

“What he was trying to accomplish was clear, he wanted to build a new backbone for the financial system. Bitcoin isn’t merely digital cash, but an alternative to banks… People pushing the MoE narrative at this moment in time are counterproductive to adoption.”

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