Many investors are leaving gold markets for crypto assets

2020-12-9 15:37

According to recent research, investors are withdrawing funds from gold investments and directing them into the crypto sector

CoinShares’ Digital Asset Fund Flows report from this week, indicates that a large volume of investments are flowing from the gold market and into crypto. According to data from the ETF provider, Bitcoin and Ethereum stock traded products accrued $429 million in the last week alone. The company explained that only once has there been a more significant crypto investment product inflow than the one seen last week.

The company currently has a record $15 billion worth of total assets under management. The report brings Ethereum, which stuck out last week, to the fore. The crypto had inflows of $87 million, translating to about 20% of the total inflows.

The report closely evaluated investment inflows from gold to Bitcoin, claiming that, “Gold has suffered with outflows from investment products of a record US$9.2bn over the last four weeks while Bitcoin saw inflows totalling US$1.4bn.”

The Gold vs. bitcoin debate remains far from over. According to the Goldprice.org archives, gold prices have slumped 10% from $2,070/oz on 6 August to $1,860/oz as of today. Bitcoin has been moving in a different direction during this timeframe, climbing 56% from $11,700 in August to about $18,300.

Year to date figures shows Gold has only gained 22% compared to Bitcoin’s 150% jump since the beginning of 2020. Ethereum may not be in this picture but it has done well in the same period. At a 320% upswing from $130 in January to around $550 at the moment, it has even outperformed Bitcoin.

Regarding the impressive Ethereum figures, CoinShares explains, “This suggests that investors are favouring Ethereum, likely due to greater clarity from the Ethereum management team on the much-awaited Eth2 upgrades that make the network much more efficient and sustainable.”

It is important to note that these figures have come at a time when the US dollar is performing poorly.

Crypto markets seem to be on a correction path that kicked off at the beginning of the month when the total market cap reached a high of $591 billion. The markets have retreated about 7% in the last few days to $548 billion.

The post Many investors are leaving gold markets for crypto assets appeared first on Coin Journal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Golos Gold (GBG) на Currencies.ru

$ 0.0077733 (-2.90%)
Объем 24H $0
Изменеия 24h: -17.51 %, 7d: -17.17 %
Cегодня L: $0.0077733 - H: $0.0095975
Капитализация $99.238k Rank 999999
Доступно / Всего 12.767m GBG

gold investors crypto many assets leaving markets

Источник: coinjournal.net

gold investors → Результатов: 126


Social Trading Tools Might Be the Key to Simplifying Crypto Trading for Retail Investors

Cryptocurrency means different things to different people. To early adopters, millennials, techies, geeks, and risk-loving investors, cryptocurrency is the future of money. During bull markets, the incredible performance of cryptocurrencies over traditional assets such as equities, real estate, and gold […] The post Social Trading Tools Might Be the Key to Simplifying Crypto Trading for Retail Investors appeared first on CoinMarketCap.

2019-11-29 16:00


Bitcoin Hater Peter Schiff Is the Gold Bug Who Cried Wolf

Peter Schiff is once again making apocalyptic bitcoin price predictions. This isn’t the first time the famous gold bug has sounded the alarm on the crypto market. Are crypto investors right to treat him like the boy who cried wolf? Peter Schiff has remained active on Twitter lately, chiming in on the Fed’s ballooning balance […] The post Bitcoin Hater Peter Schiff Is the Gold Bug Who Cried Wolf appeared first on CCN.com

2019-11-10 02:00


Peter Schiff: Whale Tactics are to Blame after Bitcoin Rises 30% Over Gold Pre-Crypto Market Crash

Peter Schiff, a HODLer of gold, has said that investors are suffering because of the whales' tactics that are employed on digital currencies markets. On a tweet posted on Oct. 29, this is what the diehard gold investor had to say, Bitcoin hodlers won't sell as they believe they'll get rich when #Bitcoin moons. Bitcoin […]

2019-10-30 20:28


Bitcoin Fixes This: Fake Gold Bars Could Turn Investors Toward Digital Counterpart

Bitcoin has been dubbed digital gold because the cryptocurrency shares many similar attributes with the precious metal. However, a recent situation involving a forgery crisis in the gold industry shows how one important aspect of Bitcoin gives it an enormous advantage over its physical gold counterpart and could drive more investors seeking a safe-haven or.

2019-10-22 21:00


Gold Bag Holders Down 20% For The Last 7 Years While Bitcoin Up Over 83,000% Since Then

Most recently G7 and the Bank for International Settlements (BIS) in its report on stablecoins called Bitcoin a failure in providing a “reliable and attractive means of payment or store of value.” It further states that crypto assets have served as a “highly speculative” asset class for “certain” investors that engage in illicit activities. Moreover, […]

2019-10-20 18:00


Фото:

New gold-backed Ethereum token is guaranteed by Australian government reserves

Australia‘s Perth Mint, one of the world’s largest refineries, is today launching a gold-backed Ethereum token guaranteed by the government of Western Australia. Marketing materials shared with Hard Fork claim the Perth Mint Gold Token (PMGT) is the first gold token on a public blockchain backed and guaranteed by government reserves.

2019-10-10 15:59


Фото:

New Ethereum token is backed by gold reserves guaranteed by Australian government

Australia‘s Perth Mint, one of the world’s largest refineries, is today launching a gold-backed Ethereum token guaranteed by the government of Western Australia. Marketing materials shared with Hard Fork claim the Perth Mint Gold Token (PMGT) is the first gold token on a public blockchain backed and guaranteed by government reserves.

2019-10-10 15:59


With The US Recession Scare, Will Bitcoin Or Gold Become The Best Safe Haven Asset?

There has been much talk among groups that Bitcoin, and cryptocurrencies like it, are the future of the world. Even so, as the last two days heralded a possible US recession, investors are turning a blind eye to cryptocurrency and focusing on the thing that always glitters: Gold. Last Tuesday, the US Institute of Supply […]

2019-10-4 16:19


Hyper-Bitcoinization Is A Possibility As Central Banks Continue Stacking Gold; Driving Up The Price

Bitcoin enthusiasts and investors are looking forward to the day central banks will start stockpiling the digital asset as the hunger for hard assets increases. Central banks around the world are moving towards gold as a store of value as de-dollarization picks up pace as US wars continue with China, Iran, Russia and other sanction-able […]

2019-9-10 20:53


Bitcoin Hater Mark Mobius Bats for Gold upon Its 21% YTD Rise

After suggesting that decentralized asset bitcoin should be backed by Gold, prominent billionaire investor Mark Mobius is asking global investors to raise their stakes in the precious metal. The Mobius Capital Partners’ founding partner said in an interview with CNBC’s “Street Signs” that investors should allocate 10 percent of their portfolio to physical gold.

2019-9-9 17:00


“Faith Is All That It Takes,” But Mark Mobius Says Gold Backed Crypto Will Be More Interesting

Speaking on CNBC’s Squawk Box, gold proponent Mark Mobius, the founder of Mobius Capital Partners, said crypto would be more attractive if it is backed by gold. Mobius, who manages $4 billion in assets, advises investors to allocate about 10% of their assets in physical gold. On the topic of if Bitcoin has any inherent […]

2019-9-6 04:36


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Paul Tudor Jones says he’s long gold and Bitcoin

Billionaire Paul Tudor Jones is bullis on gold and Bitcoin. The hedge fund manager told CNBC in an interview that commodities are under-owned. Paul Tudor Jones says he is long the precious metal gold and digital asset Bitcoin (BTC) ahead of the US election and as inflationary pressures look to persist beyond the November vote.

Bitcoin Surge Imminent? Arthur Hayes Links War-Fueled Inflation To Crypto Boom

Better times for Bitcoin may lie ahead as the co-founder of BitMEX feels that the current geopolitical tensions in the Middle East may only push the cryptocurrency to rise higher. According to Arthur Hayes, the effects of war would resonate intensely in the US economy in the form of increased government spending and inflationary levels […]