It is increasingly common for experienced investors to put gold and a crypto like bitcoin (BTC) back to back. It turns out that in general, they come to the conclusion that the asset is singularly relevant, sometimes, more than gold. Proof of the bubble of optimism surrounding the asset, especially in times of monetary crisis.
Bitcoin (BTC), a truly strong cryptocurrency compared to gold?
In the last 24 hours, the price of bitcoin (BTC) has soared 2.62% to around $28,430. This represents, on the scale of the past week, an increase of 2.77%, confirming, at the very least, the consolidation projections issued regarding the asset.
While a climate of concern seems to be growing regarding the imminence of a recession in the United States, the asset manager Bernstein drew an interesting comparison between BTC and gold.
For Gautam Chhugani, a prominent analyst at the company, BTC has unique properties that are similar to those of digital gold. This is also why, according to him, crypto regularly gains favor with institutional investors.
Because, explains Gautam Chhugani, bitcoin is an asset ” refuge “ attractive to them. This is evidenced by its current inflation rate, which stands at 1.8% and closely mirrors that of gold. Not to mention the progressive scheduled scarcity of the asset, linked to the halving occurring every four years.
The flagship crypto’s 5-year outlook, five times higher than gold!
Gautam Chhugani estimates that in the next five years, the performance of bitcoin would be five times higher than that of gold. To arrive at this conclusion, the Bernstein analyst compared the trends of the two assets over the past months.
He notes, regarding bitcoin (BTC), a significant drop of 60% in the valuation of the asset in 2022. However, the flagship crypto has been able to bounce back vigorously, accumulating nearly 150% gains in the process, over the past few years. last three years.
This is not the same story for gold. Gautam Chhugani points out that the numbers are mixed for this one. The asset, although popular with investors, has remained relatively stable throughout this period.
That said, bitcoin (BTC) seems to offer more prospects than gold. The Berstein expert also envisages that the accessibility of crypto will widen. This, as a Bitcoin ETF promotes the integration of BTC, into brokerage accounts.
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