Bitcoin will surpass gold in 2022 thanks to the participation of the millennials: Analyst
Bitcoin will surpass gold in 2022 thanks to the participation of the millennials: Analyst
- Bitcoin is challenged by strict regulation and volatility, but according to Frank Holmes, it still has the chance to exceed gold this year.
- The rise of cryptocurrency is mainly due to the thousand years of approval according to the CEO of the US investment company Global Investors.
In another Bitcoin (BTC) vs. Gold comment, Frank Holmes, CEO of the US investment company Global Investors, shared his opinion on the prospects of the two assets in 2022.
In conversation with Kitco News, Holmes Gold this year has the potential to win. However, he also pointed out that Bitcoin has a strong argument for exceeding gold due to the thousand years of support. Bitcoin strongly challenges gold in the value storage market, he said. However, volatility and regulatory access are the greatest obstacles to cryptocurrency.
According to Holmes, there is the possibility that gold mining companies will produce more this year, which will drive the value of gold to over $ 2,000. Bitcoin, on the other hand, exceeded many other investment classes in 2021 and is therefore well equipped to reach the $ 100,000 mark in 2022. Holmes, together with Goldman Sachs, the President of El Salvador, Nayib Bukele, and other industry experts, gives a BTC price forecast of $ 100,000 for 2022.
at the time of going to press, BTC was still sideways at $ 46,202, while gold was rated $ 1,818, according to Goldprice.org. The gold price fell by 5.62 percent last year, while BTC has risen by 47.3 percent.
Bitcoin and gold compete as value storage
Between the two assets, Holmes believes that Bitcoin has a better chance of becoming the ultimate value preservation means. Its reasons are the increased commitment of the millennial generation, which has replaced its gold with cryptocurrency. His opinions reflect the results of the CNBC Millionaire Survey in December 2021-83 percent of the millennial millionaires have crypto and 48 percent of them plan to increase their stock this year. Another study by cryptovance also showed that millennials have the most cryptocurrencies compared to other generations.
Holmes believes that this cohort will be critical drivers of the increase in the BTC Prize and the larger cryptom market. Digital money has become the interest of this generation and has led it to digital assets that they accepted despite volatility concerns, he added. Previously, Holmes pointed out that investors' interest in crypto is aimed at his decentralized character. Holmes said;
I think Bitcoin can do it much better, and the only headwind will be the regulatory policy. This contributes to his daily volatility. I think that Bitcoin has a greater chance of exceeding gold. <…> It is important that millennials are important for the price finding that attracts institutional money, and America tries to become clear about how they want to regulate it.
Randnotizen
In addition, he believes that the potential of Bitcoin, gold to exceed, is based on its relative ease of acquisition compared to gold. Here he asked gold mining companies to keep a significant part of the precious metal, just like their crypto counterparts:
You should hold out. You should not sell what your opinion is so cheap, and many Bitcoin people believe that Bitcoin will act much higher with all the government's money prints.
Source: Crypto-news-flash.com