Quote from: iamTom123 on August 31, 2017, 05:45:29 PM

Quote from: tyz on August 29, 2017, 01:23:56 PM

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

Honestly, I don't believe in such news very much

Why so? Because gold is too different from Bitcoin, and the psychology of investing in gold is the opposite of investing in Bitcoin. In fact, I find it rather strange that gold investors would even consider Bitcoin as a viable investment vehicle at all since there are quite a few investment assets in between gold and Bitcoin in terms of risks involved. In this way, gold investors should rather look into these assets first, not Bitcoin. It may be no more than typical hype just like many examples that we see recently when one public person or another declares their support of Bitcoin without actually putting their money where their mouth is. In other words, all talk and no walk