Bank experts, headed by managing director Nikolaos Panigirtzoglou, noted that the demand for physical gold is growing in the global market – against the background of increasing uncertainty in the global economy.
“Gold becomes a key beneficiary of the depreciation strategy – a model aimed at protecting against inflation when weakening fiat currencies. The cost of gold exceeded $ 3100 per ounce and continues to grow, and Bitcoin has been behind the beginning of the year due to high volatility, ”investment batmonds said.
Outflow of funds from spotto bitcoinETF
It lasts several months, while exchange funds focused on physical gold fix the influx of capital. According to the data JPMorganthe total global investments in gold reached a record $ 9 trillion, of which $ 5 trillion was on private investment funds and $ 4 trillion – for central banks.
Until the Bitcoin course begins to demonstrate steady growth, backed up by fundamental rather than speculative factors, it is not worth expecting a return of interest in an asset, investment bank experts emphasized.
Earlier, co-founder of Unlimited, a former top manager of the Bridgewater Associates Foundation, Bob Elliott, doubted Bitcoin’s values due to his strong volatility amid political tension around the world.
Source: Bits
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