(D1SoftballNews) - Savers seem much more drawn to cryptocurrencies than gold. The yellow metal is positioned rather low in the wishes of those looking for a safe haven asset and even the latest polls confirm this trend. Bitcoins are truly experiencing their golden moment.
Initially they were viewed with considerable suspicion by savers and avoided like the plague by institutional savers, but if we look at the latest polls, even institutes that until yesterday looked at them with great fear today tend to clear them through customs. This is the case, for example, of Bank of America which only a few months ago called them a tremendous bubble and today instead speaks of Bitcoin but also of the whole blockchain world as a phenomenon.
Too big to ignore. All this not to mention all those savers who in the polls claim that they prefer to diversify into Bitcoin rather than gold to hedge against any market fluctuations.
BOLD THESES THAT FASCINATE
In our opinion, Bitcoin cleared customs too easily. That it may be an interesting and even innovative phenomenon may very well be, but that it can replace an objectively very stable asset such as gold in the guise of an instrument of refuge is at least risky. Yet a financial market guru like Barry Sternlicht, who co-founded Starwood Capital Group is absolutely supportive of crypto and indeed he considers them a more stable investment than money or even metals. He considers the world of tokens to be more transparent than that of currencies (printed in rain and without a criterion) and metals (manipulated and arbitrary).
These extreme reflections can in our opinion be confusing and destabilizing for the man in the street who does not understand the inherent risks.
It is right to listen to the reflections of these gurus. But it is also fair to understand that they have the tools to defend themselves in case they are wrong.
By Kim Lee
