Bitcoin vs gold – Ƀitsell X

Bloomberg Strategist Sees Bitcoin as Global Alternative Currency — Warns Stock Market Drawdown Could Impact BTC

March 2, 2024

Bloomberg Intelligence’s senior commodity strategist, Mike McGlone, says bitcoin is “becoming an alternative currency on a global basis,” noting that “The world’s going towards intangible assets and bitcoin is the most significant in cryptos.” However, the strategist warned that as bitcoin’s price approaches $70,000, a key test for the cryptocurrency may come “when the U.S.…
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Bitcoin Supercycle May Be Happening, Says Commodity Strategist Mike McGlone

March 23, 2023

Bloomberg Intelligence senior commodity strategist Mike McGlone has explained that a supercycle may be happening in bitcoin, noting that the cryptocurrency is beating gold by almost 10 times so far this year. The strategist added that if past trends hold, bitcoin’s volatility is more likely to recover compared to commodities when the crypto “heads toward…
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Goldman Sachs Ranks Bitcoin Best Performing Asset so Far This Year

January 28, 2023

Goldman Sachs has ranked bitcoin the best-performing asset so far this year. The cryptocurrency also tops the global investment bank’s list as the asset with the highest risk-adjusted return — above gold, real estate, the S&P 500, and the Nasdaq 100. Bitcoin Outshines Other Investments on Goldman’s Chart Global investment bank Goldman Sachs has reportedly…
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Financial Adviser Warns Crypto Is ‘One of the Biggest Bubbles Ever’ — Says ‘It’s Going to Be Ugly’

December 10, 2021

The president of Payne Capital Management has warned that crypto is “one of the biggest bubbles ever.” Stressing that the crypto market is “becoming a bigger and bigger casino,” he predicts that the bubble will eventually burst and “It’s going to be ugly.” Crypto Is a Big Bubble Waiting to Burst, According to the Financial…
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El Salvador’s President Tells Peter Schiff Benefit of Switching Gold Reserves to Bitcoin

December 6, 2021

The president of El Salvador, Nayib Bukele, has revealed that his country holds 44,106 oz. of gold in its reserves that has lost some value over the past year. He told gold bug Peter Schiff that if El Salvador had sold its gold and bought bitcoin last year, it would now be worth $125 million…
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Fund Managers Increasingly Prefer Bitcoin Over Gold — Say It’s a Better Store of Value

November 22, 2021

A growing number of fund managers and institutional investors now prefer bitcoin over gold. They see the cryptocurrency as a better store of value and a better inflation hedge. “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.…
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Microstrategy CEO Discusses Bitcoin Becoming $100 Trillion Asset Class — Says BTC Will Grow 100X

November 21, 2021

The CEO of Microstrategy says that bitcoin will emerge as a $100 trillion asset class and will grow 100X from where it is today. He said the cryptocurrency is winning against gold as a store of value and he is not worried about regulation. “I’m not at all troubled with the regulations that’s going on…
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Goldman Sachs: Gold Is Becoming Poor Man’s Crypto

November 14, 2021

Goldman Sachs’ head of energy research says, “Just like we argue that silver is the poor man’s gold, gold is maybe becoming the poor man’s crypto.” He sees funds starting to flow from gold into bitcoin as inflation fears escalate, noting that “We’ve argued historically that crypto and gold do not have to cannibalize each…
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Microstrategy Avoids ‘Multi-Billion Dollar Mistake’ by Choosing Bitcoin Over Gold

September 7, 2021

Nasdaq-listed company Microstrategy has avoided a “multi-billion dollar mistake” by choosing to invest in bitcoin instead of gold. The company now holds about 108,992 bitcoins. ‘Multi-Billion Dollar Mistake’ Avoided The Nasdaq-listed software company Microstrategy has avoided making a mistake that could have cost the company multi-billion dollars. CEO Michael Saylor tweeted Sunday: If I had…
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