Major Gold investor is entering Bitcoin market

[deisik]

One of the biggest asset managers in the United States and major investor in the gold market, VanEck, is now entering the Bitcoin.The investment giant is currently managing an estimated amount of $38 billion in assets. The firm which was founded in 1955, has offices in the United States, Germany, and Australia, which in recent years has focused on precious metals like gold, silver, and platinum.

The market capitalization of Gold is about $7 Trillion, compared to the market cap of Bitcoin which is a little over $71 billion, Bitcoin appears relatively small. But VanEck believes that there still a lot of potential in the Bitcoin market.

There are news that many gold investors (as well as those in stocks) are now lining up to show their support for Bitcoin by joining the cryptocurrency bandwagon expecting that Bitcoin is now the new safe haven in digital form. I am sure that more and more gold investors would be persuaded to also join the Bitcoin ecosystem as they are now realizing that Bitcoin is much better than gold in terms of return-of-investment. This is just the start of something really beautiful and golden with Bitcoin

Honestly, I don't believe in such news very much

Why so? Because gold is too different from Bitcoin, and the psychology of investing in gold is the opposite of investing in Bitcoin. In fact, I find it rather strange that gold investors would even consider Bitcoin as a viable investment vehicle at all since there are quite a few investment assets in between gold and Bitcoin in terms of risks involved. In this way, gold investors should rather look into these assets first, not Bitcoin. It may be no more than typical hype just like many examples that we see recently when one public person or another declares their support of Bitcoin without actually putting their money where their mouth is. In other words, all talk and no walk

[darkangel11]

They know what they're doing and are right about the potential.
I remember the speculations about how deep into the curve of adoption we are at the moment. Some thought we were at the peak in 2013. but now we know that it was just the beginning. We're still very early along that line. I'd say not even in 1/3. Gold is getting too stable for these people, big money is coming to BTC.

[Anarchist]

In general, when investors are very anxious or simply worried about the value of the dollar, they buy physical gold rather than gold substitutes. Apparently, some worried investors are also buying bitcoins. I imagine that Bitcoin buyers belong mainly to generation X and Y, while gold buyers are mostly baby boomers, less young.

[Tungsten-1]

This could lead to another big waves for Bitcoin, if those giant gold investor are now entering to Bitcoin, more will surely follows.

This much be surprising for us and for bitcoin development and also we are seeing this trend. Everyone desire to earn as maximum as possible. I think the ones who are investing in Bitcoins are doing exactly the same. And not only gold investors, probably many more investors will option for Bitcoins tomorrow if not today.

[Carlsen]

I like the idea of bitcoin in combination with gold.
I suppose they will have a plan to combine the safety of gold with the potential of bitcoin growth.
This shows us thet even the professionals of the investment business think of bitcoin as a worthy option to put money in!
The acceptance of bitcoin is growing, it can go on like this!!!

[Collinslevi]

The market capitalization of Gold is about $7 Trillion, compared to the market cap of Bitcoin which is a little over $71 billion, Bitcoin appears relatively small. But VanEck believes that there still a lot of potential in the Bitcoin market.
But if Bitcoin is successful long term, we should continue to see competitor cryptocurrencies and market strategies emerge to exploit the new economic rent — a Bearish risk for Bitcoin’s price.

[cramcram21]

One of the biggest asset managers in the United States and major investor in the gold market, VanEck, is now entering the Bitcoin.The investment giant is currently managing an estimated amount of $38 billion in assets. The firm which was founded in 1955, has offices in the United States, Germany, and Australia, which in recent years has focused on precious metals like gold, silver, and platinum.

The market capitalization of Gold is about $7 Trillion, compared to the market cap of Bitcoin which is a little over $71 billion, Bitcoin appears relatively small. But VanEck believes that there still a lot of potential in the Bitcoin market.

Wow that's a great news for all of the bitcoin user's there we go again another big name has enter the crypto currency world.
Looks like we are going to see a huge price increase in the future because of this.