Bitcoin (BTC) can offer protection against the “depreciating value of money,” newly bullish investor Ray Dalio says. In a Reddit “Ask Me Anything” session on Dec. 8, Dalio, who last month abandoned his skepticism of Bitcoin, said that the cryptocurrency could complement gold as an investment. Dalio: Bitcoin “could be diversifier to gold” “I think that bitcoin (and some other digital currencies) have over the last ten years established themselves as interesting gold-like asset alternatives, with similarities and differences to gold and other limited-supply, mobile (unlike real estate) storeholds of wealth,” he wrote. “So it could serve as a diversifier …

A new report from market data aggregator CoinShares has revealed recent surging crypto inflows amid record gold outflows. The report, published Dec. 7, notes that gold investment products have seen record outflows of $9.2 billion over the past four weeks, while BTC products saw inflows of $1.4 billion. The combined crypto fund sector saw record inflows of $429 million over the past two weeks, with Ethereum funds attracting significant investment following the completion of Eth2’s Phase 0 with the launch of the Beacon Chain on Dec. 1. Despite representing 14% of the capital locked in crypto investment products, 20% or …

Speaking during the Singapore Fintech Festival 2020 on Dec. 7, pioneering Bitcoin (BTC) investors Cameron and Tyler Winklevoss reaffirmed previous forecasts that Bitcoin’s price will eventually exceed prices of $500,000 per Bitcoin. The twins noted that their $500,000 prediction is predicated on the assumption that Bitcoin’s market cap will increase by 40 times to surpass gold’s roughly $9 trillion market cap in the future. Cameron pointed to the “tremendous amount of money-printing going on” in debt and fiat regimes, and concerns surrounding inflation as driving up demand for “hard assets” like gold and Bitcoin. Cameron states that Bitcoin offers significant …

2021 is shaping up to be a tremendous year not only for gold but for cryptocurrencies as well, according to Frank Holmes, CEO of U.S. Global Investors. In a Monday interview with Kitco News, Holmes said he expects digital assets such as Bitcoin (BTC) and Ether (ETH) to perform exceptionally well alongside gold. He believes that these digital assets are enjoying higher adoption because of their underlying value drivers. Regarding Bitcoin, Holmes felt that more people are embracing the digital asset in a continuation of a multi-year trend: “The number of wallets, people that are embracing Bitcoin, that’s been growing …

Dan Tapiero, the co-founder of 10T Holdings, said weak hands have been shaken out in the gold market. This raises the probability of a gold rally in the near term, especially as it comes off of an 80-day pullback period. A rally in gold and the dollar may dampen Bitcoin price Bitcoin has seen strong momentum in the past three months, as it achieved an all-time high on Coinbase and a number of other major exchanges. Despite this, the threat of a correction for Bitcoin is a real possibility if gold begins to rebound in tandem with the U.S. dollar. …

Legendary investor Paul Tudor Jones has likened Bitcoin (BTC) to precious metals, and other cryptocurrencies to industrial metals, in terms of use case — a clear indicator of where he thinks the market is headed over the next 20 years. In a Thursday interview with Yahoo Finance’s Julia LaRoche, Jones outlined his vision of the digital currency market over the next several decades. “I’m not an expert on Bitcoin by any stretch,” Jones said, adding: “With a market cap of $500 billion, it’s the wrong market cap in a world where you got $90 trillion worth of equity market cap …

Bitcoin (BTC) may get fresh support for a record-breaking year in 2021 thanks to the demise of a familiar foe: the U.S. dollar. As various sources noted this week, the dollar is trading at almost three-year lows against various currencies and five-year lows against the Swiss franc. Analyst: Long-term trend “clearly dollar weakness” Weakness in the dollar tends to translate into strength for Bitcoin, and 2020 has been the year in which the U.S. dollar currency index (DXY) has become a reliable yardstick for price direction. An inverse correlation has been palpable throughout 2020, and while Bitcoin’s relationship with DXY …

Mike Novogratz, CEO of financial services firm Galaxy Digital, recently expressed his usual bullish Bitcoin sentiments on CNBC’s Squawk Box morning show. During the short segment, the show’s interviewer asked Novogratz about Bitcoin (BTC) in relation to gold. He noted that big players are seemingly buying crypto after selling their gold investments, with gold recently seeing an all-time high level of outflow. “I think it’s meaningful but it’s not the real story,” Novogratz said on Tuesday morning. “The real story is adoption of Bitcoin, adoption of crypto, across a vast variety of accounts,” he noted, going on to mention Guggenheim's …

Digital asset manager Grayscale is bringing back its controversial "drop gold" campaign just in time for the potential Bitcoin (BTC) bull market. CEO Barry Silbert tweeted Tuesday that the 30-second advertisement will be “running on major networks all over the country.” The commercial implores investors to “leave the pack behind” by dropping gold and adding digital assets like Bitcoin to their portfolio. “In a digital world, gold shouldn’t weigh down your portfolio,” the commercial says, adding: “Digital currencies like Bitcoin are the future. They’re secure, borderless and, unlike gold, they actually have utility.” Grayscale launched its #dropgold campaign in May …

Gold bug and Bitcoin skeptic Peter Schiff was just 17 years old when the yellow metal set its true all-time price high. Meanwhile, Bitcoin (BTC), a much younger asset, sits close to its inflation-adjusted all-time high after just three years of downward pressure. Gold reached a price of $678 U.S. dollars in 1980, according to a breakdown from Visual Capitalist. Accounting for inflation, based on calculations from Officialdata.org, $678 in 1980 held the same buying power as approximately $2,142 in 2020. The precious metal technically broke its U.S. dollar all-time high this year, hitting $2,075, according to TradingView data. Its …

Bitcoin (BTC) continues to convert some of its harshest traditional critics from mainstream finance as Bloomberg admits that this bull run is nothing like 2017. In an article on Nov. 27, the publication known for its pessimism highlighted a range of Bitcoin metrics pointing to a bullish future — despite Thursday’s $3,000 price rout. Bloomberg: Bitcoin market “far more liquid” Included as evidence were record-high Bitcoin futures open interest, non-zero wallet numbers, hash rate and the lack of correlation between Bitcoin and other macro assets. “Just look at market technicals and Wall Street’s growing embrace of the world’s biggest digital …

Gold Bullion International co-founder Dan Tapiero believes that it’s only a matter of time before Bitcoin’s (BTC) price surges into the six-figure threshold. Speaking to Anthony Pompliano on the Pomp Podcast, Tapiero asserted that in terms of price appreciation, Bitcoin is king, even though he believes investors should own both gold and Bitcoin: “In the next five years, I can see gold at $4,000, so that’s double. But if gold is at $4,000, Bitcoin is probably somewhere between $300,000 and $500,000, so that’s a 20, 30x.” He went on to add, “I don’t really think that anyone in the gold …