Bitcoin Prices Rise, Traditional Investors Still Choose Gold
JAKARTA - Although bitcoin is getting more and more boisterous, traditional investors seem to remain loyal to gold. JPMorgan Chase & Co, one of the world's leading financial institutions, recently revealed that there is no significant evidence to suggest gold investors are turning to Bitcoin (BTC) as an alternative investment.
Despite the growing interest in Bitcoin marked by the soaring flow of large funds into the Bitcoin Exchange-Trad Funds (ETF), traditional gold investors remain firm on their choice.
According to JPMorgan's research report, both institutional and individual investors have shown similar interest in gold and Bitcoin so far this year. The analysis recorded an accumulation of around $7 billion (around Rp108.13 trillion) in BTC and $30 billion futures contracts (around Rp466.70 trillion) in gold futures contracts since February, reported by Coinspeaker.
Robert Kiyosaki, author of Rich Dad Poor Dad and Bitcoin proponents, has encouraged his followers on social media X to increase their Bitcoin holdings. He suggests moving from traditional financial systems to alternatives such as gold, silver, and cryptocurrency, with a particular focus on Bitcoin.
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Among the alternative assets echoed by Kiyosaki, there is a different view from other financial observers. Jim Cramer, an American television figure and host of Mad Money on CNBC, prefers gold over Bitcoin, considers it an asset class with non-specative use, while Bitcoin is considered a risk asset.
This opinion is supported by Goldman Sachs analysts who state that gold is a more useful portfolio diversification than Bitcoin. Frank Holmes, CEO of the US Global Investors, also argues that gold is a better asset to own, especially in tense situations such as war news.
On the other hand, Mike Novogratz, CEO of Galaxy Digital, predicts that Bitcoin will soon shift gold as a favorite asset among investors. This projection is based on a potential Bitcoin spot ETF that can address the significant market cap difference between the two assets in the coming decade, especially with the growing adoption of Bitcoin.