Family Offices May Now See Bitcoin as Alternative to Gold: JPMorgan Report
In a research report by JPMorgan’s global markets team, analysts noted that Grayscale Bitcoin Trust’s flow trajectory outperformed gold ETFs.
Rick Rieder, CIO of Fixed Income at investment giant BlackRock, told CNBC that bitcoin and cryptocurrency are "here to stay."
The Deutsche Bank analyst's comments are another sign of bitcoin's increasing acceptance in the mainstream of finance.
Bitcoin's price is approaching a new all-time high, but bitcoin is not yet the replacement for gold many think.
Bitcoin is outshining the precious metal by a significant margin as expectations soar of a swift global economic recovery enabled by promising coronavirus vaccines.
Even if they don’t know it yet, Michael Saylor thinks gold investors will eagerly dump the commodity for what he calls a superior store of value – bitcoin.