Buy Bitcoin Or Gold? Bitcoin Buyers Investing In Gold This Year

January 29, 2019

– Buy bitcoin or gold? Bitcoin buyers are investing in gold in 2019
– Poll of 4,000 bitcoin buyers shows their No 1 investment in 2019 is gold
– “Gold lost to bitcoin and now it’s going the other way…” says ETF strategist
– “Gold is a store of value and there’s no disputing that…”


Gold in USD (10 Years) – GoldCore.com

via CNBC.com

Bitcoin’s hot streak is well and truly dead.

The cryptocurrency has not been able to crack above $4,000 in three weeks just 12 months after trading at more than $12,000.

Signs show that bitcoin investors are moving toward a more traditional commodity, says Jan Van Eck, CEO of Van Eck Associates.

“I do think that Bitcoin pulled a little bit of demand away from gold last year, in 2017,” Van Eck told CNBC’s “ETF Edge ” on Wednesday. “Interestingly, we just polled 4,000 bitcoin investors and their number one investment for 2019 is actually gold. So gold lost to bitcoin and now it’s going the other way.”

In the 12 months to bitcoin’s peak above $20,000 in December 2017, the cryptocurrency increased in value 25 times over. Over that same stretch, gold rallied 4 percent. More than a year since bitcoin’s peak, it’s down 82 percent, while gold is up 2.5 percent.

It may be difficult for the tide to turn back to bitcoin and away from gold from here, says Tim Seymour, founder and chief investment officer of Seymour Asset Management.

“Not only have we lost all liquidity on the underlying [commodity] but truly outside of the existential blockchain argument, it’s been very difficult to argue store of value which is really what we started hearing about,” Seymour said on “ETF Edge” on Wednesday.

“Gold is a store of value and there’s no disputing that.”

Courtesy of Full article and interview on CNBC.com

Mark O'Byrne is executive and research director of www.GoldCore.com which he founded in 2003. GoldCore have become one of the leading gold brokers in the world and have over 4,000 clients in over 40 countries and with over $200 million in assets under management and storage.We offer mass affluent, HNW, UHNW and institutional investors including family offices, gold, silver, platinum and palladium bullion in London, Zurich, Singapore, Hong Kong, Dubai and Perth. 

Gold is impervious to rust.