Dec 08, · They said that their $K prediction is forecasted on the assumption that BTC’s market cap will surge by 40 times to surpass that of the precious metal which is around $9 trillion currently. Cameron highlighted the “tremendous amount of money printing going on” in debt and fiat regimes. Bitcoin Gold is down % in the last 24 hours. The current CoinMarketCap ranking is #85, with a market cap of $,, USD. It has a circulating supply of 17,, BTG coins and a max. supply of 21,, BTG coins. The top exchanges for trading in Bitcoin Gold are currently Binance, Huobi Global, OKEx, bitcoinlife24.de, and HitBTC. Dec 13, · The main gold exchange-traded funds (ETF) are losing funds – that much is true. SPDR Gold Shares (GLD) and iShares Gold Trust (IAU) have .
Bitcoin gold market capitalBitcoin Absorbing Gold's Market Cap Leads To Record One-Week Fund Outflows - bitcoinlife24.de
That does not mean that institutions are replacing their positions with bitcoin. We do know, though, that institutions are getting interested, and a growing number are becoming active in the crypto market. These institutions are not the only drivers of bitcoin inflows, however. The GBTC trust mentioned above is only available upon issuance to accredited investors, who can sell on the over-the-counter OTC market after a six-month lock-up period.
The listed price carries a premium to the underlying value, which represents the strength of retail demand for bitcoin exposure.
Without strong retail demand, the GBTC premium would dwindle. This week, financial advisory firm deVere released the results of a survey of over of its millennial clients, which showed two-thirds of them prefer bitcoin to gold as an investment.
This makes intuitive sense: Millennials are more comfortable with technology than their elders, and can probably grasp the potential more easily. And a Pew report last year showed younger Americans are less likely to trust institutions than older generations. Recent events are likely to have weakened this trust even further, at a time when the savings rate of those millennials and Gen Z-ers fortunate enough to have kept their jobs through the pandemic is increasing. A New York Times article from earlier this year presented the millennial generation as focused on early retirement, which will concentrate their attention on long-term value that cannot be inflated away.
All this makes young people more likely to invest in inflation-resistant assets, yet less likely to invest in gold. For one thing, it is difficult for retail investors to actually hold gold.
Sure, they can buy shares in a gold ETF, but that implies more centralized control and institutional vulnerability than a self-custodied bitcoin investment. And in an environment of weakened trust in the current system, self-custody of bitcoin is a much easier solution than is self-custody of gold.
So we are likely to have significant new demand for bitcoin as a portfolio investment coming in from younger retail investors, at a time professional investors are also taking notice. Many professional investors will be interested in bitcoin investment precisely because of this potential growth narrative — other people wanting bitcoin is enough to make them want bitcoin.
And, unlike gold, growth in demand for bitcoin does not affect its supply, which feeds the narrative loop even more. Throw in the dwindling rate of new bitcoins entering the system, and the demand-supply dynamics could entice even traditional investors to take an interest.
This does not mean that gold investment is over. But a new generation of investors is starting to rewrite the rulebook. For now, the impact on gold flows is negligible, and we will see funds rush into industry ETFs when markets get wobbly and the commodity price starts to move up again. But demographics and sentiment are two powerful forces that, working in tandem, can move mountains — even those made of gold.
In my opinion, possibly both. Bitcoin is a relatively volatile asset, and corporate treasury is not the place to take risks. But bitcoin is actually a potentially excellent corporate treasury asset. Ria and Tess list several ways in which bitcoin can mitigate typical corporate treasury risks. For instance, balance sheets are often exposed to liquidity risk, in which a company does not have enough liquid assets to meet debt payments and so has to sell less-liquid assets at unfavorable prices.
Holding bitcoin instead of these less-liquid assets frees up cash in order to satisfy obligations, as bitcoin can be used as collateral on many lending platforms. Jeff points out that holding cash on the balance sheet for large corporations is onerous, usually requiring several accounts, limited banking hours, wire fees as well as the need to earn a yield on cash holdings.
He also hinted, and this could be fun, that activist investors could soon start pressuring companies to diversify treasury holdings with bitcoin. Ria and Tess touched on this, but I think it could go even further, eventually giving rise to a new type of repo market.
As the specter of no deal on Brexit looms ever closer, and stimulus talks in the U. The year-to-date performance is still higher than more traditional alternatives, institutions continue to demonstrate interest and infrastructure development continues apace.
Fidelity Digital Assets is entering the crypto lending business , albeit indirectly, allowing its institutional customers to pledge bitcoin as collateral against cash loans in a partnership with crypto lending firm BlockFi. TAKEAWAY: The growth of the lending business is worth keeping an eye on, as it represents a maturation of the market as well as a sign that liquidity will continue to improve. More than that, the growing awareness of the advantages of bitcoin as a collateral asset is likely to lead to new types of infrastructure emerging, as well as new use cases for bitcoin and other cryptocurrencies.
These services will include trading and custody. We are a technology company. The precious metal that has throughout the ages been where investors park their capital they seek to protect, may have finally met its successor in crypto. The pandemic has only accelerated the digital technology and shone a spotlight on its key benefits. Gold performs best where investors are uncertain about the economy.
There have been few times throughout history where things were as questionable as they are now. And while gold had its day to shine, surging to a new all-time high, the rare yellow metal, has since lost its luster.
Where you at PeterSchiff? Each loss of support has resulted in such a drop in the past. The first major breakdown caused a drop of ten BTC per gold bar, to just about parity with gold. The recent bullish trend in crypto while precious metals cool down has caused gold bugs to come out in droves to bash Bitcoin.
Given the scarce BTC supply and simple math, the upside in Bitcoin is enormous compared to gold, which might be on its way out as a monetary standard for the first time in its history. Could you be next big winner? I consent to my submitted data being collected and stored. It has caused