Thriller Insights - S4EP13: Bitcoin Replace Gold’s Value for Years to Come

  
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News gathered from Decrpyt and Bloomberg

JPMorgan Chase: Bitcoin Will Chip Away at Gold’s Value for Years to Come

  • Strategists at JPMorgan Chase predict that institutional investors are moving from gold to Bitcoin.

  • Since October, investments in the Grayscale Bitcoin Trust grew by $2 billion while gold-backed ETFs lost $7 billion.

  • If the current trend continues over the coming years, Bitcoin's detrimental effect on gold's price would become much bigger.

  • However the Chief Global Strategist at Morgan Stanley, Ruchir Sharma, says bitcoin’s rise is more due to the dollar.

    “Money printing is likely to continue, even when the pandemic passes,” Sharma says in an editorial for FT. “Trusted or not, bitcoin will gain from widening distrust in the traditional alternatives.”

    “Do not assume that your traditional currencies are the only stores of value, or mediums of exchange, that people will ever trust. Tech-savvy people are not likely to stop looking for alternatives, until they find or invent one. And stepping in to regulate the digital currency boom, as some governments are already considering, may only accelerate this populist revolt,” he says.

Other Bullish News…

Bitcoin to 21K still?

Bitcoin Chart by TradingShot via Trading View

Long-Term Holders Are Selling BTC

via Glass Node Insights


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