It’s Bull Time for Bitcoin (BTC) and Gold, Bear Time for Fiat Currency! Bitwise Explains Why!

The leading cryptocurrency, Bitcoin, has seen a huge increase in institutional adoption in recent months. While many companies are buying Bitcoin at this point, Nasdaq-listed healthcare firm Prenetics Global has become the latest company to join the institutional Bitcoin hoarding race. Related News: Huge BTC Move Comes From The Company That Consults The Person Who Convinced Donald Trump About Bitcoin! While the increase in institutional adoption is notable, Bitwise CIO Matt Hougan spoke about the demand for BTC. Matt Hougan argued that investors globally are now questioning the future of the fiat currency system and have begun to turn to Bitcoin and gold as safe havens. Hougan said he believes the world is beginning to question the very foundations of the fiat currency system that has defined the modern economy since the early 1970s. Stating that the fiat currency system is no longer stable and secure at this point, Hougan said that central banks are turning to gold to protect against currency depreciation, while investors are increasingly turning to Bitcoin as a digital alternative. The Bitwise CIO said that central banks, which were routine buyers of gold before 1971, abandoned the gold narrative and entered a period of unlimited money printing, but started buying gold again after the 2008 financial crisis due to growing concerns about fiat money. Pointing out that Bitcoin purchases with gold have also increased recently, Hougan said that a total of $45 billion has been invested in Bitcoin ETFs as of January 2024, while only $34 billion has been invested in gold ETFs in the same period. At this point, Hougan added, traditional portfolio strategies are now risky. Finally, Hougan noted that Bitcoin will emerge as a modern store of value as inflation concerns rise and trust in government-issued currencies decline, further reinforcing the need for investors to include alternatives like Bitcoin and gold in their portfolios. *This is not investment advice. Continue Reading: It’s Bull Time for Bitcoin (BTC) and Gold, Bear Time for Fiat Currency! Bitwise Explains Why!

Source: BitcoinSistemi