Bitcoin ETFs Outperform Gold, Threatening Traditional Havens
A recent chart from J.P. Morgan illustrates the burgeoning dominance of Bitcoin over gold, particularly since the launch of highly anticipated spot Bitcoin ETFs. The chart depicts a significant influx of funds into Bitcoin, while gold ETFs concurrently experience an outflow. This emerging trend suggests a shifting preference among investors towards digital assets over conventional safe-havens. Notably, Bitcoin ETFs have swiftly accumulated $27.5 billion in a short period, surpassing silver ETFs and aiming to outpace the $90 billion invested in gold ETFs. The entry of Bitcoin ETFs into the market not only introduces a new investment avenue but also poses a direct challenge to gold’s longstanding reputation as a store of value, as highlighted by J.P. Morgan’s graph.
“Rich Dad Poor Dad” Author Kiyosaki Reveals Motivation Behind Bitcoin Investment
In a recent post on X, financial expert and “Rich Dad Poor Dad” author, Robert Kiyosaki, unveiled the rationale behind his substantial investment in Bitcoin. Kiyosaki views the leading cryptocurrency as a safeguard against the “theft of our wealth” orchestrated by entities such as the Federal Reserve, Treasury, and Wall Street bankers. According to Kiyosaki, these institutions exploit the value of traditional currency through inflation, taxation, and stock value manipulation. Consequently, he opts for the decentralized and inflation-resistant qualities of Bitcoin, favoring it over traditional investment vehicles like equities, bonds, and fiat money.
Bitcoin Price Poised for Parabolic Surge, Predicts Samson Mow
Samson Mow, CEO of Jan3, has gained recognition on the X platform for his bullish outlook on Bitcoin, notably predicting that the cryptocurrency will eventually reach $1 million following the launch of Bitcoin ETFs. Mow recently reiterated his optimistic stance on Bitcoin’s price through a meme on social media. The accompanying text draws attention to the rapid accumulation of Bitcoin by ETF-issuing companies after the launch of their new products, asserting that it’s implausible for ETFs to amass at this rate without the price undergoing a parabolic surge.