JPMorgan’s Analysis Shows Institutional Investors Moving From Gold ETFs to Bi...
JPMorgan has highlighted evidence of institutional demand for bitcoin and investors moving from gold exchange-traded funds (ETFs) to the cryptocurrency. The firm points out that bitcoin demand is driven not only by younger retail investors but also by institutional investors, such as family offices and asset managers. Gold ETF Investors Moving to Bitcoin JPMorgan’s Global Markets Strategy team released a report Friday that discusses bitcoin. It also compares the flow trajectories for Grayscale Bitcoin Trust (GBTC) and gold exchange-traded funds (ETFs). The report reads: Corporate....
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The investment bank says gold could languish for years as Bitcoin’s popularity grows. Growing mainstream acceptance of Bitcoin (BTC) as a reserve asset is having a direct impact on gold, setting the stage for a major shift in institutional allocation between the two assets, according to analysts at JPMorgan Chase.Quantitative strategists, including Nikolaos Panigirtzoglou, believe that Bitcoin’s digital gold narrative will draw investors away from precious metals, possibly for years to come, leading to a large divergence in price between the two assets.The bank said Bitcoin only accounts....
Deutsche Bank’s strategist Jim Reid reportedly wrote that investors are increasingly demanding to use bitcoin instead of gold to hedge dollar risk and inflation. His research concurs with one recently published by JPMorgan’s analysts that shows institutional investors moving from gold to bitcoin. Investors Replacing Gold With Bitcoin In a report discussing the performances of several investments post-vaccine news, Deutsche Bank’s research strategist Jim Reid wrote that “One of the oddities has been the dramatic divergence between gold (-3.6%) and silver (-4.4%) on....
A report from JPMorgan’s Global Markets Strategy division discusses three bullish reasons for Bitcoin’s long-term potential. JPMorgan, the $316 billion investment banking giant, said the potential long-term upside for Bitcoin (BTC) is “considerable.” This new optimistic stance towards the dominant cryptocurrency comes after PayPal allowed its users to buy and sell crypto assets.JP Morgan, from "Bitcoin is a fraud and will blow up" in 2017 to "Bitcoin’s competition with gold" in 2020. We've come a long way. pic.twitter.com/xceabkHaVJ— Krüger (@krugermacro) October 24, 2020 The....
Is owning digitized gold a better option than physical gold? Comtech Gold tokenizes the metal making it more liquid and secure. The take-off of digital gold has the potential to disrupt the industry to an unprecedented degree. Historically, gold has been used as a global currency as a hedge against inflation. It has also been serving as an investment venue (commodities), often preferred over other asset classes like equities or foreign exchange, particularly in conventional markets. However, there are certain disadvantages to owning physical gold, such as inconvenience in transport and....
Gold's prospects seem to dim as Bitcoin's glitter According to multiple experts, one possible reason for Bitcoin’s remarkable recent price rise are massive investor outflows from another popular inflation hedge: gold. Spot gold swooned over the past week, falling 4.62% to $1,857. The asset previously had been surging in unison with Bitcoin, which is up over 40% from $28,000 lows last week.In a Tweet on Friday, Charlie Morris, founder and CIO at ByteTree Asset Management, said that the pullback in gold might be attributable to investors moving to Bitcoin:With bond yields up and inflation....