According to JP Morgan BTC has affected Gold market and increase in popularity of Cryptocurrencies will impact Gold market.
What you guys think about that?
I do think that the bitcoin market is going to take a huge share away from the gold market. A lot of the big investors in the gold market are likely going to start shifting to Bitcoin now that it has become a trend. And I don’t think that there is anyone, especially the big institutions, that would like to miss this kind of opportunity. Most of them are now investing their money in Bitcoin.
Every time, since the start of this year, we have been seeing news of big institutions investing money in Bitcoin, and there are even a lot of them that we are yet to know about. But that doesn’t mean that gold is not still a good investment, gold is still going to continue being a good investment for a lot of people, but Bitcoin might surpass it in the future.