вторник, 15 декабря 2020 г.

Deutsche Bank: Investors increasingly prefer bitcoin over gold to hedge inflation

Analysts at the German investment bank Deutsche Bank noted the strengthening of the status of bitcoin as a store of value.

«There seems to be an increase in demand for bitcoin, where gold used to be used to hedge dollar risks, inflation and other things.», – writes Deutsche Bank Managing Director Jim Reid.

He notes «oddities» markets during the last month, where on one side there are gold and silver, which fall by 3.6% and 4.4%, respectively, and on the other – bitcoin, which increased in price by 13.4%.

«Bitcoin is up another 3% overnight and appears to be creating a self-sustaining momentum. Over the past six weeks, it has grown by over 70%, while more and more investors see it as a worthy asset.», – adds Reid.

According to the analyst, recent news of successes in testing vaccines against coronavirus leads to capital rotation from gold to other protective and risky assets..

Not long before this, CitiBank analysts said, what bitcoin has a chance to repeat the upward trajectory of gold in the 1970s and rise above $ 300,000 by the end of 2021.

Cryptocurrency Prices

вторник, 15 декабря 2020 г.