It is a strange world that we live in, and with the intervention of cryptocurrencies, which are being introduced as a separate discipline in the world of finance, the whole thing is simply overwhelming. Even to this date, most people and states don’t understand the concept of cryptocurrencies or blockchain for that matter, and that is why they are so behind with such an amazing and thrifting world of investment.
But in the developed countries, there is an incredible trend that is in motion among the investment community that traders and investors are deserting gold and joining Bitcoin and Ethereum because they feel their investment is not only secure there but also will propose great returns in the future. Many analysts and investors believe Bitcoin to be the digital gold of the modern age, and the commodity is believed to lose its significance over the years; this is, of course, just an assumption and nothing more.
Gold Might Lose Its Global Hedge Influence
The numbers suggest that there is definitely an uptick among investors choosing Bitcoin and Ether over gold. The Bloomberg commodity strategist Mike McGlone has come forward to share his insight on the subject. He believes that investors are finally giving up on gold and are instead funnelling their investment into a much more diverse world of cryptocurrencies. Not only do they think that their investment would be more secure there, but they can also get amazing returns on their investment after a significant time.
Gold is down by a significant number, according to Mike, and this doesn’t look good for the commodity as it is currently referred to as a stable investing unit or a hedge against inflation. Cryptocurrencies, on the other hand, are showing amazing statistics in terms of their price and value going up full, showing amazing statistics in terms of their price and value going up. Bitcoin is almost 70% up, whereas Ether is almost 400% up since the last market corrections. The Crypto market still remains an untapped sector for various investors, and with time they are going to head towards it.