Rosenberg Strategist: Traditional Investors Are Putting Money In Bitcoin, Not Gold

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Rosenberg Strategist: Traditional Investors Are Putting Money In Bitcoin, Not Gold

彩云比特

2021-02-08 01:30

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David Rosenberg, chief economist and strategist at Rosenberg Research, revealed that Bitcoin is eating into gold's market share as mainstream investors move funds from the precious metal to the leading crypto asset.

Editor's Note: This article comes fromCybtc Blockchain (ID: cybtc_com), reprinted by Odaily with authorization.

Editor's Note: This article comes from

Cybtc Blockchain (ID: cybtc_com)

Cybtc Blockchain (ID: cybtc_com)

, reprinted by Odaily with authorization.

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Image: Shutterstock

Rosenberg told Fox Business that instead of allocating funds to gold, traditional investors have chosen Bitcoin, the number one cryptocurrency by market capitalization.

"The mania for bitcoin does seem to be undercutting the money that would normally go into the gold market."

The chief economist at Rosenberg Research added that bitcoin has shaved about 10 percent off gold's current value of $1,800 an ounce. According to Rosenberg, if traditional investors do not flock to Bitcoin, the price of gold will increase by at least $200/oz.