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Gold Will 'Suffer' as Bitcoin Catches On: JPMorgan
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investopedia.comA new note from strategists at investment bank JPMorgan has warned that the value of gold will «suffer» as institutional investors move funds away from gold and into cryptocurrency funds. According to authors of the note, which lays out a bullish case for cryptocurrencies, gold will face a «structural flow headwind» as investors shift allegiance and money to Bitcoin (BTCUSD). The report does not provide a timeline for this event.
Bitcoin accounts for only 0.18% of assets held at family offices, the note's authors write. That amount is a fraction of the 3.3% of the total funds set aside for gold exchange-traded funds (ETFs). A change of strategy from gold to Bitcoin at family offices will represent the transfer of billions of dollars in
Read more on investopedia.comAbout this in other media
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