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The new address of the investor fleeing from gold has been revealed
While investors are giving up their gold assets, Bitcoin ETFs have gained 9 billion dollars.
As investors transition from gold to the so-called digital equivalent Bitcoin, a divergence is emerging in U.S. equity investment funds.
In the past five weeks, U.S. Bitcoin ETFs attracted over 9 billion dollars in inflows, led by BlackRock's iShares Bitcoin Trust ETF (IBIT). Meanwhile, according to data compiled by Bloomberg News, gold-backed funds experienced outflows exceeding 2.8 billion dollars during the same period.
The recent easing of trade tensions has reduced demand for traditional safe havens like gold, while Bitcoin's status as an alternative store of value is increasing.
Bitcoin reached a record level of 111,980 dollars earlier this month, supported by positive regulatory signals including progress on the stablecoin law and increasing macroeconomic uncertainty. Although gold has risen more than 25% so far this year, it has pulled back from recent peaks and is trading around 190 dollars below its all-time high.
According to Bloomberg's report, analysts say this rotation indicates that Bitcoin is increasingly being accepted as a legitimate portfolio hedge. A global equity strategist at Jefferies stated, "I continue to be bullish on both gold and Bitcoin. They remain the best hedge against currency depreciation in the G7 world."
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