During a recent interview with CNBC, Jan Van Eck, CEO of premier investment management firm ‘VanEck’, said that Bitcoin investors are moving from Bitcoin to gold.
“Signs show that bitcoin investors are moving toward a more traditional commodity, “I do think that Bitcoin pulled a little bit of demand away from gold last year, in 2017. Jan Van Eck said.
According to Jan, Gold saw some of its investors flock into the first and foremost cryptocurrency in search of massive gains. Now, some of those investors are reportedly switching back. Stating he said:
I do think that Bitcoin pulled a little bit of demand away from gold last year, in 2017. Interestingly, we just polled 4,000 bitcoin investors and their number one investment for 2019 is actually gold. So gold lost to bitcoin and now it’s going the other way.
Bitcoin has not been able to hit above $4,000 in three weeks and possibly making the investors rethink their decision.
During the same interview with CNBC, Tim Seymour, the founder, and chief investment officer of Seymour Asset Management also spoke about his view on Bitcoin. He, in his statement, mentioned that attracting investors to Bitcoin from gold will be difficult.
Meanwhile, many in the cryptocurrency space believe that Bitcoin is near its bottom, which may be reached in the first half of 2019. Should this happen, it might not be much of a surprise to see more speculators flood back into the fast-moving digital asset.
