Institutional Investors Choose Bitcoin Not Gold, Says JP Morgan 

2020-11-9 15:40

An excerpt from a financial report from JP Morgan finds that Grayscale’s Bitcoin Trust has seen significantly larger investment flows than the all gold ETFs combined. 

Grayscale’s #dropgold campaign, which began in May 2019, is turning out to be a huge success. 

Accredited Investors Turn to Bitcoin, Not Gold 

Accredited investors are individuals or entities with a net worth of more than $1 million and $5 million, respectively. These investors include—highly-paid professionals, limited companies, family offices, endowment funds, and other hedge funds. 

JP Morgan, the largest investment bank in the U.S. based on assets under management, reports that since 2019 these investors have preferred Grayscale’s GBTC more than gold ETFs. 

An ETF or exchange-traded fund is a financial derivative whose value is dependent on the underlying asset it backs. GBTC on Grayscale thus offers investors exposure to Bitcoin’s price without investors having to custody actual BTC. This product is not available to retail investors. 

For comparison, this is the first time gold and Bitcoin have met on a level playing field. And thanks to Grayscale, accredited investors now have the freedom to choose between the two. These days, they’re choosing Bitcoin.

Grayscale Bitcoin Trust (blue, left) vs. Gold ETF outstanding (black, right). Source: Twitter

Not only has GBTC led gold ETFs but it is also slowly slicing into the precious metal’s market share, according to Michael Sonnenshein, the managing director of Grayscale. 

During the last week of October, Grayscale recorded the largest-ever inflows to the Bitcoin and Ethereum trust, and the trend has continued into November.

The report comes within a few weeks of an investor update from JP Morgan, stating that Bitcoin has a potential of 10x appreciation in price compared to gold. The interest in Bitcoin rose steeply from April 2020, indicating rising interest following the COVID-induced market crash. 

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 98862.95 (+0.83%)
Объем 24H $100.458b
Изменеия 24h: 5.64 %, 7d: 10.39 %
Cегодня L: $94006.77 - H: $98862.95
Капитализация $1956.056b Rank 1
Цена в час новости $ 15087.84 (555.25%)

says morgan gold investors choose bitcoin institutional

Источник: cryptobriefing.com

says morgan → Результатов: 122


Фото:

JP Morgan Sees Millennials’ Bitcoin Preference Over Gold as Foundation for Its Long Term Success

JP Morgan says bitcoin’s 2020 surge is set to continue as the digital cryptocurrency competes better against gold as an alternative currency. In a note, the financial institution says that with millennials set to become a more important market participant in the coming years, their preference for bitcoin to gold sets up the crypto for […] The post JP Morgan Sees Millennials’ Bitcoin Preference Over Gold as Foundation for Its Long Term Success appeared first on Bitcoin News.

2020-10-25 14:03


Фото:

Paypal’s Crypto Embrace: Morgan Stanley Says Move Boon for Mass Adoption, Critics Say Payment Giant Violates Crypto Principles

The entry of Paypal into the cryptocurrency industry continues to expose the divide between traditional crypto space players who are less enthusiastic and non-crypto players who endorse the move. Non-crypto players like the analysts at Morgan Stanely are agreement with the notion that the payments giant’s move will lead to greater adoption cryptocurrencies.

2020-10-25 10:15


US Dollar Will Crash “Faster and Harder,” Says Pro-Bitcoin Economist

A recent sharp pullback move in the US dollar market is insufficient to log a full-fledged upside breakout. So says Stephen Roach, the former chairman of Morgan Stanley Asia. The pro-Bitcoin economist wrote in an op-ed that the US dollar could fall by as much as 35 percent by the end of 2021 due to strengthening foreign currencies, rapid macroeconomic imbalances in the US, and the end of the American hegemony over global reserve assets. […]

2020-9-29 11:16


Фото:

Every Pension System Should Have 1.5% Of Total Funds In Bitcoin, Says Morgan Creek’s Pompliano

Bitcoin and the S&P 500 Index have gone through a short-lived correlation after the March crisis that saw both the traditional and crypto markets crash to record low levels. However, the correlation started to pull away once the adoption of crypto assets began to spike as both retail and institutional investors started to move funds […]

2020-8-22 17:03


Фото:

Millennials Move Fiat into Bitcoin and Boomers into Gold, JP Morgan Says

Bitcoin and Gold’s ongoing correlation reflects the investment preferences of the younger versus the older generation during the coronavirus-induced global financial crisis. According to a report by multinational investment firm JP Morgan, interest in alternative assets has risen significantly with Millennials choosing Bitcoin and other digital assets, and Boomers going for gold. Investment flows analysis […]

2020-8-6 11:30


Фото:

US Congressman Says Bitcoin Won’t Go Away, It Will Only Get Stronger

Bitcoin has value and will continue to advance and become a more and more important integral part of the future of Americans, according to Congressman Tom Emmer. The pro-cryptocurrency and decentralization US representative for Minnesota was speaking during an interview with Morgan Creek’s co-founder and early Bitcoin adopter Anthony Pompliano. “Bitcoin, blockchain, it’s not going […]

2020-8-5 10:48


Nvidia Claims Investors’ Cherry-Picking Information, Not Misled about Crypto Mining Boom

Nvidia has urged a California federal judge at a hearing on Friday to dismiss a case against it brought by investors who claim that the company misled them about cryptocurrency mining revenues. The American technology company that designs graphics processing units (GPUs) says the plaintiff cherry-picked information and relied on a Morgan Stanley analyst and […]

2019-12-8 19:05


Глава Morgan Creek: время продавать биткоин еще не наступило

Колебания цены биткоина не означают, что от криптовалюты пора избавляться, считает генеральный директор Morgan Creek Capital Management Марк Юско. Don’t hold your breath in hopes of a trade deal, says Morgan Creek Capital Management’s @MarkYusko.

2019-9-27 12:59


Jamie Dimon Quashes Recession Fears — Here's Why He's Wrong

Despite worries of an impending global recession, Jamie Dimon is still feeling rather positive about the state of the U.S. economy — but his sentiment might be misguided. The J.P. Morgan Chase chairman says his gut feeling is that the American economy isn't nearing a turn for the worse — telling reporters at the Business […] The post Jamie Dimon Quashes Recession Fears — Here's Why He's Wrong appeared first on CCN.com

2019-9-19 23:03


Prominent Bitcoin Bull Anthony Pompliano: Altcoins Will Drop Liquidity and Fade Away

The veteran investor and crypto expert Anthony Pompliano says that the day is not that far when due to the scarcity of liquidity many (in fact most as per him) of the Altcoins will leftover. Anthony Pompliano, Morgan Creek Digital VC fund’s partner and co-founder, a master at investments in cryptocurrency, usually named as ‘Pomp,’ […]

2019-8-25 03:17


Libra and others that follow it will establish exchange relations with major currencies, says former PBoC Governor

With Bitcoin getting mainstream recognition, there has been a lot of institutional onboarding into digital assets. Giants like Facebook, J. P. Morgan, Amazon, Alibaba, Microsoft, and others from all industrial sectors have started to look towards these assets as something that could potentially help solve problems in existing systems, ranging from payments, transfer of value etc.

2019-7-10 17:30


Марк Юско: Биткоин вырастет до $30 000, а затем его ждет серьезный откат

По мнению инвестора и основателя компании Morgan Greek Марка Юско, до наступления фазы новой коррекции биткоин должен преодолеть психологический рубеж в $30 000. Свой прогноз бизнесмен высказал в эфире телеканала CNBC и подчеркнул, что нас будет ждать агрессивный рывок монеты, но затем произойдет ее крупный откат.

2019-7-9 16:39


дальше еще 73 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Trump set to hold private meeting with Coinbase CEO

Donald Trump to meet Coinbase CEO Brian Armstrong in a discussion that might include SEC leadership and plans for the crypto advisory council. The post Trump set to hold private meeting with Coinbase CEO appeared first on Crypto Briefing.