In the view of the strategists at JP Morgan, sentiment around gold could dampen in the long-term if investors start moving their allocations away from gold and into cryptocurrencies.
Key quotes
"The adoption of bitcoin by institutional investors has only begun, while for gold its adoption by institutional investors is very advanced."
“Bitcoin only accounts for 0.18% of family office assets, compared with 3.3% for gold ETFs. This means that tilting the needle from gold to bitcoin would represent the transfer of billions in cash.”
“If this medium to longer-term thesis proves right, the price of gold would suffer from a structural flow headwind over the coming years," wrote JP Morgan's strategists.
However, “there's a good chance that Bitcoin prices have overshot and gold is due for recovery.”
作者：Dhwani Mehta，文章来源FXStreet，版权归原作者所有，如有侵权请联系本人删除。
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