As the price of Bitcoin continues to rise, Fund managers have become more fond of the asset. There was a time when Gold was considered to be the ultimate store of value, but it didn’t perform as well during the pandemic. Therefore, Fund managers have started to think that Bitcoin is a better store of value than Gold. It can serve the purpose of an inflation hedge much better as compared to Gold. Some even think that this superiority of Bitcoin is going to stay like this for decades.
What do fund managers have to say?
The CEO of Galaxy Digital Holdings, Mike Novogratz, said that Gold was an okay asset in its own being, but it got crushed by Bitcoin. He also added that BTC is undoubtedly a better store of value, and its acceptance is also increasing at a swift pace. We already have over 200 million BTC users & investors, and this number is only growing every day.
We also have Anthony Scaramucci, the founder of Skybridge Capital, who is also expecting to outperform Gold. Anthony also believes that in the long run, the market cap of BTC will also topple Gold. He says that BTC is at least 10 times better than Gold, and it won’t surprise him if the price goes up exponentially in the future.
Paul Tudor Jones, another fund manager, is also in favor of Bitcoin. He says that it is winning the race against Gold at present and will be his preferred one. Even JPMorgan said that investors are shifting from Gold to Bitcoin.
Is Bitcoin really a better store of value than Gold?
Bitcoin has been in existence for the last 10 years, but Gold has been here for centuries. Hence, we cannot compare both of them thoroughly. Even after that, if we take a look at the last 10 years, Gold’s return has been negligible, but BTC’s CAGR has been well over 200%. And this is why a trend is being seen where investors and fund managers are dumping Gold for Bitcoin.
What is your thought as fund managers say Bitcoin is a better store of value than Gold? And do you really think that BTC will be able to sustain this in the long run? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: Sotheby’s now accepts Ethereum for physical items.