International Investment firm, EXANTE’s co-founder Anatoliy Knyazev says investors should be buying Bitcoin not Gold.
According to Mr Knayzev, the Gold rally is an indication that investors are severely concerned about the financial incentives of the global central banks and the near future of the largest economies.
“People are scared of inflation, so stocks, gold, and cryptocurrencies are all being driven up.”
He, however, added that he’d personally buy Bitcoin over Gold any day.
“For me, Gold as lots of cons and no pros, whereas Bitcoin has so many pros. Demand for Bitcoin exceeds supply. Institutional investors and funds are buying more than is mined. The typically volatile asset class has also seen a steady performance since its halving earlier in the year. Miners aren’t ready to sell at lower than $6,000-8,000 and there’s a reasonably strong demand for the asset at this price.”
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