This year there is no denying that gold and crypto assets especially Bitcoin (BTC) are the focus when the economic market is in turmoil.
The yellow metal recorded an all-time high (ATH) above the $ 2,050 level before facing a 10% correction, declining before consolidating at $ 1,800.
At the same time, BTC after a double jump led to an ATH record of $ 19,900.
JPMorgan analysts revealed that there is an increase in capital flows in Bitcoin while gold is the opposite. This proves that the gold position is losing its luster as the BTC strengthens.
This extraordinary phenomenon is expected to continue, especially now that institutional investors are seen to be beginning to be interested in cryptocurrency investing and have to deal with laws and infrastructure that are still unclear.
JPMorgan also explained that 0.18% of the firm's total assets were allocated in Bitcoin and related investments. While 3.3% for gold investment allocation.
If institutional investors begin to understand Bitcoin as a storage value, it is not impossible that gold will lose its value to the tune of billions of dollars. This is reminiscent of the Gemini founder's claim that Bitcoin is worth 10x more than gold!
Well-known investor Paul Tudor Jones has voiced his opinion on Bitcoin as a 'black horse' in this macroeconomic era race due to the asset's ability to store value over time.
