Fund Managers Increasingly Prefer Bitcoin Over Gold

Bitcoin is now preferred by an increasing number of fund managers and institutional investors over gold. They regard cryptocurrencies as a superior inflation hedge and a better store of money. “I believe it will be 10 times better than gold over a lengthy period of time,” one asset management firm’s founder said.

Bitcoin vs Gold: Bitcoin Is a Better Store of Value

Fund managers and institutional investors are increasingly choosing bitcoin over gold as a better store of value and a preferred inflation hedge.

Galaxy Digital Holdings CEO Mike Novogratz mentioned bitcoin as a greater store of wealth than gold during his company’s Q3 results call last week. “I still think gold was probably an acceptable asset to purchase in this market,” he said, but added, “It’s just been smashed by bitcoin.” Novogratz went on to say:

Bitcoin is simply a more advanced version of a store of value that is rapidly gaining acceptance… The bitcoin ecosystem already has over 200 million participants worldwide, and it is still growing.

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Anthony Scaramucci, the founder of Skybridge Capital, believes bitcoin will outperform gold. Last week, he predicted that bitcoin will “eclipse gold.” He has been claiming that bitcoin is still very, very early, and that the cryptocurrency’s price would easily exceed $500,000. He advises investors to buy BTC immediately.

Scaramucci stated during a conversation regarding market capitalization:

Over a lengthy period of time, I believe it will be 10 times better than gold… I wouldn’t be shocked if bitcoin increases at an exponential rate while gold increases at a linear rate.

Paul Tudor Jones, another well-known fund manager, recently declared that he favors bitcoin to gold. He stated last month that in the current economic context, he preferred bitcoin as a hedge against inflation, stating:

Clearly, crypto has a place in the world. It’s clearly winning the race against gold right now… At the moment, it would be my favorite option over gold.

Institutional investors have been abandoning gold for bitcoin, according to JPMorgan, a global investment firm. “Institutional investors appear to be returning to bitcoin, maybe as a stronger inflation hedge than gold,” according to the firm’s experts.

Microstrategy, a pro-bitcoin Nasdaq-listed business, stated in September that picking bitcoin over gold last year saved it “a multi-billion dollar blunder.” The corporation presently has 114,042 BTC in its possession. Last week, CEO Michael Saylor predicted that bitcoin will become a $100 trillion asset class.