One of the biggest asset managers in the United States and major investor in the gold market, VanEck, is now entering the Bitcoin.The investment giant is currently managing an estimated amount of $38 billion in assets. The firm which was founded in 1955, has offices in the United States, Germany, and Australia, which in recent years has focused on precious metals like gold, silver, and platinum.
The market capitalization of Gold is about $7 Trillion, compared to the market cap of Bitcoin which is a little over $71 billion, Bitcoin appears relatively small. But VanEck believes that there still a lot of potential in the Bitcoin market.
There are news that many gold investors (as well as those in stocks) are now lining up to show their support for Bitcoin by joining the cryptocurrency bandwagon expecting that Bitcoin is now the new safe haven in digital form. I am sure that more and more gold investors would be persuaded to also join the Bitcoin ecosystem as they are now realizing that Bitcoin is much better than gold in terms of return-of-investment. This is just the start of something really beautiful and golden with Bitcoin.