Move Over Gold, Bitcoin Eyes The Throne, According To Market Guru

2024-4-4 12:27

The age-old debate over how best to store wealth reignites as Bitcoin and gold lock horns. Peter Brandt, a veteran financial trader, throws his weight behind Bitcoin, claiming it will dethrone gold as the long-term champion.

Brandt cites a chart showcasing the leading cryptocurrency’s meteoric rise against gold over the past 12 years, suggesting a clear trend. However, Eric Balchunas, a Bloomberg ETF analyst, presents a counterpoint. He highlights a recent influx of investor interest in gold, with trading volumes even surpassing a popular Bitcoin ETF (IBIT).

In a longer-term frame, Bitcoin is King over Gold and should remain on the throne for a very long time. Think of BTC as the ruler, Gold is the baron and Silver as the court-jester $BTC $GC_F $SI_F pic.twitter.com/Uz9k3aoMg4

— Peter Brandt (@PeterLBrandt) April 2, 2024

Bitcoin Vs. Gold: The Clash Of Viewpoints

This clash of perspectives reflects the ongoing uncertainty surrounding Bitcoin’s future. Proponents like Brandt emphasize its potential for long-term growth, fueled by its innovative nature and finite supply. The crypto asset’s rise coincides with a growing distrust in traditional financial systems, with some viewing it as a hedge against inflation and economic instability.

Gold mounting comeback, $GLD seeing volume than $IBIT, probably bc gold on nice run lately while btc struggles (altho btc still trouncing gold by 3x since spot launch). Poss early sign of $IBIT exhaustion = could see outflow day soon to snap its absurd 54-day inflow streak. pic.twitter.com/0XMd39gJSM

— Eric Balchunas (@EricBalchunas) April 2, 2024

However, Bitcoin’s detractors point to its volatility as a major drawback. The recent price correction, which saw Bitcoin lose significant value in a short period, exemplifies this risk. Furthermore, Bitcoin’s regulatory landscape remains murky, with some governments wary of its decentralized nature. This uncertainty can deter institutional investors seeking stability.

Gold, on the other hand, boasts a long and illustrious history as a store of value. Its tangible nature and limited supply have made it a safe haven during times of economic turmoil. Recent geopolitical tensions have driven investors towards gold, seeking its traditional stability. Additionally, gold’s established role in the global financial system makes it a familiar and trusted asset class.

Bitcoin Or Gold?

The recent surge in gold’s trading volume could be a temporary blip, as Balchunas suggests. Investors may be seeking refuge in gold after Bitcoin’s price tumble. However, it could also signal a more enduring shift in market sentiment. The long-term viability of Bitcoin ETFs like IBIT also remains to be seen. If these funds experience outflows, it could further dampen investor enthusiasm for Bitcoin.

Ultimately, the battle between Bitcoin and gold is a complex one, with strong arguments on both sides. Investors must weigh their risk tolerance and investment goals when deciding where to allocate their assets.

Those seeking high-growth potential with the ability to disrupt traditional finance might favor Bitcoin. However, they must be comfortable with significant price swings and a rapidly evolving regulatory landscape. Conversely, those prioritizing stability and a proven track record may find solace in gold.

The future remains unwritten. Whether Bitcoin emerges as the undisputed king, or gold retains its crown, the battle for financial supremacy promises to be a captivating one to watch.

Featured image from Kinesis Money, chart from TradingView

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 61587.71 (-0.12%)
Объем 24H $26.444b
Изменеия 24h: -2.25 %, 7d: 6.70 %
Cегодня L: $61481.72 - H: $61650.41
Капитализация $1213.008b Rank 1
Цена в час новости $ 69017.68 (-10.77%)

gold bitcoin throws trader financial veteran weight

Источник: bitcoinist.com

gold bitcoin → Результатов: 126


Фото:

Saylor says Bitcoin will ‘eat gold’ in the coming months

MicroStrategy executive chairman Michael Saylor predicted that Bitcoin will “eat gold” in the coming months because it is a far superior asset in every way. The MicroStrategy chair made the statement during a CNBC interview on March 11, where he added that Bitcoin was not only superior to gold but all conventional assets, including real […] The post Saylor says Bitcoin will ‘eat gold’ in the coming months appeared first on CryptoSlate.

2024-3-12 02:30


Bitcoin Is Replacing Gold At An “Accelerating Pace”

The narrative taking place across the finance industry, is that cryptocurrencies like Bitcoin and Ethereum are the way of the future and gold’s days are numbered as a store of value. While the “digital gold narrative” has already taken a major dent out of the precious metal’s momentum, according to a top Bloomberg Intelligence analyst, “most indicators point to” Bitcoin replacing the aging asset an an “accelerating pace.

2021-3-9 19:44


Фото:

CoinShares’ Demirors: The Market Cap of Bitcoin Will Far Exceed That of Gold

‘Bitcoin is the digital gold’ is a narrative that has become quite common. However, according to Coinshares’ Meltem Demirors, Bitcoin is much more than just a digital replacement for gold. Demirors who is the chief strategy officer at the digital asset management firm, CoinShares believes that Bitcoin will soon outdo gold in market cap despite […]

2021-2-15 15:30


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Why are Baby Boomers ditching gold for Bitcoin ETFs?

For as long as there have been markets, gold has been considered a haven in times of hardship.   But that may now be changing, with the mass exodus we have seen in recent months of investors flocking away from – not towards – gold ETFs.