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Fund Managers Are Increasingly Preferring Bitcoin Over Gold, Claiming That It Is A Better Store Of Value.

Bitcoin is now preferred by an increasing number of fund managers and institutional investors over gold. They consider cryptocurrencies to be a better store of value and an inflation hedge. “I think it’s going to be ten times better than gold over a lengthy period of time,” one asset management firm’s founder predicted.

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Bitcoin is now preferred by an increasing number of fund managers and institutional investors over gold. They consider cryptocurrencies to be a better store of value and an inflation hedge. “I think it’s going to be ten times better than gold over a lengthy period of time,” one asset management firm’s founder predicted.

 

Fund managers and institutional investors are increasingly choosing bitcoin over gold as a better store of value and a preferred hedge asset.

Galaxy Digital Holdings CEO Mike Novogratz mentioned bitcoin being a greater store of wealth than gold during his company’s Q3 results call last week. “I still think gold was probably an okay asset to purchase in this market,” he said, emphasising that “it’s just gotten smashed by bitcoin.” Novogratz also stated:

“ Bitcoin is just a better version of a store value and it’s being accepted at an accelerating pace … There are now over two hundred million people around the world that participate in the bitcoin ecosystem, and it continues to grow”

Anthony Scaramucci, the founder of Skybridge Capital, believes bitcoin will outperform gold. He predicted last week that bitcoin would “eclipse gold.” He has stated that bitcoin is still in its infancy, expecting that the cryptocurrency’s price will easily reach $500,000. He advises investors to get some Bitcoin right away.

Scaramucci stated during a conversation regarding market capitalization:

“I think it’s probably going to be ten times better 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 goes up at a linear one.”

Paul Tudor Jones is another well-known fund manager who has lately revealed that he favours bitcoin to gold. He stated last month that in the current economic context, he preferred bitcoin as a hedge against inflation, stating:

“Clearly, 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 moment.”

JPMorgan, a global investment bank, stated in October that institutional investors are abandoning gold in favour of bitcoin. “Institutional investors appear to be returning to bitcoin, possibly perceiving it as a stronger inflation hedge than gold,” according to the firm’s experts.

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Microstrategy, a pro-bitcoin Nasdaq-listed business, said in September that picking bitcoin over gold last year saved it from “a multi-billion dollar blunder.” The corporation now holds around 114,042 BTC. Last week, CEO Michael Saylor stated that he expected Bitcoin to become a $100 trillion asset class.

“It’s apparent that bitcoin is gaining and gold is losing… and it will continue… “It’s quite evident that digital gold will replace gold this decade,” Saylor said.

The head of energy research at Goldman Sachs has stated that funds are shifting out of gold and towards bitcoin. “Just as we say that silver is the poor man’s gold, gold may become the poor man’s cryptocurrency,” the CEO said.