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

Many institutional investors, fund managers, and other financial professionals now choose bitcoin to gold. According to them, the cryptocurrency can be a better way to hedge inflation and store value. “I think it’s probably going to be ten times better than gold over a long period of time,” said the founder of one asset management firm.

Bitcoin Vs. Gold: Bitcoin Is A Better Store Of Value

Investors from institutions and funds are choosing to invest more in bitcoin than gold. This is because they see it as a safer store of value and an ideal hedge against inflation.

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

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, founder of Skybridge Capital, also believes that bitcoin will outperform gold. He said last week that bitcoin “will eventually eclipse gold.” He has been saying that it is still very, very early for bitcoin, predicting that the price of the cryptocurrency will easily reach $500K. He encourages all investors to buy bitcoin now.

Scaramucci offered this opinion in an exchange about 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 that recently said he would prefer bitcoin to gold. According to him, bitcoin was a way for him to hedge against inflation during the current economic environment.

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 Global Investment Bank stated that in October, institutional investors had been trading gold for bitcoin. “Institutional investors appear 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 company Microstrategy said it avoided “a multi-billion dollar mistake” by choosing bitcoin over gold last year. It now holds 114,042 BTC. Michael Saylor, the CEO of stated last week that it will become an asset class worth $100 trillion.

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

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

Do you agree with fund managers choosing bitcoin over gold? Comment below to let us know your thoughts.

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