Bitcoin has “stolen the show” from gold, says RP Stoeferle
Ronald-Peter Stoeferle, managing partner of investment management firm Incrementum AG, has suggested that Bitcoin’s growth in recent years has overshadowed gold as the two assets battle for the presumptive value of value status.
Stoeferle noted that Bitcoin’s increased coverage would play a role in making the assets a risky investment, especially with input from institutional investors, he said in an interview with Good news Asia published July 7.
According to Stoeferle, the increased attention to Bitcoin has triggered some investors to discover gold in the end in search of a wealthy store.
“Bitcoin has stolen the show from gold in recent years when it comes to media coverage. When I look at the cash flows, I see no key factor for the gold price development here <...> Bitcoin buyers tend to be younger, tech savvy and are often concerned about our money system. Many crypto investors who have understood Bitcoin will eventually continue to discover gold, “said Stoeferle.
Bitcoin differs from the rest of the crypto market
The managing partner added that Bitcoin will be fully established when 99% of current cryptocurrencies have been wiped out of the market. Stoeferle emphasized that Bitcoin is a clear distinction from the rest of the market, and is growing as a monetary technology and as a financial upgrade with similarities to gold.
“Bitcoin is also getting stronger for each portfolio. The concept of combining two alternative monetary asset classes into one fund is valued by our investors,” he added.
In the long run, the investment manager stated that Bitcoin has a better chance of surpassing gold if the flagship crypto continues to establish itself over the next few years.
His forecast of the Bitcoin price correlates with an earlier claim that the crypto will undergo a significant price evolution in the coming years.
Despite the ongoing bear market, Stoeferle noted that the next phase of Bitcoin’s inflation has not yet begun, and the next value will be driven by the asset’s growing status as a hedge against inflation.
In particular, in the midst of a high-inflation environment, Bitcoin’s price has eroded, and is currently trying to maintain its value above the crucial $ 20,000.
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