Head of investment VanEck Gabor Gorbach believes that the following bullrun of the stock market can cause investors in precious metals. In his opinion, the appeal of the “digital gold” will give impetus to the arrival of new capital. This writes Bitcoinist.
Bitcoin — the new gold
Recently, the price of the main cryptocurrencies have formed the most noticeable uptrend over the past few months. Gorbach called it just the beginning and predicted the conquest of new price levels in the long term.
Capitalization of gold at this point — 7 trillion dollars. If even a tenth of it will come in Bitcoin, we will witness a new sharp jump of the prices.
Now capitalization of Bitcoin equal to 125 billion dollars. The tenth part of all money in gold can triple the capitalization of the main cryptocurrency. And behind it will catch up and the course.
Today, Bitcoin is used as digital gold. If someone wants to avoid the risks of the global economy, he has his money in digital or paper gold.
For a paradigm shift Bitcoin still needs to grow — Gorbach laments the lack of normal mechanisms for institutional investors. However, the expert has an optimistic vision for the future.
We believe that the market has good liquidity. We have a chance to integrate Bitcoin into the financial ecosystem, as it used to be in ETFs, stocks and bonds.
Other analysts fully support the opinion of Gorbaha. CEO ADVFN.com Clem chambers and does believe that Bitcoin has replaced gold.
You can’t go to the airport with a bunch of gold bars. Now to open a Bank account — a thankless job that can take months. Previously, people kept their wealth in gold, now it’s even easier. You can buy Bitcoin and not worry that your money will be stolen.
The main cryptocurrency has a few more reasons for further growth. Some analysts believe that now has come the best time for bargain purchase of Bitcoin. Miss it during interviews in our cryptodata?
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