Jan Van Eck, VanEck: Investors Sell Bitcoin And Buy Gold
Interest to digital money was growing for two years, but now the situation has changed, as the head of investment company which was getting ready to launch Bitcoin ETF is sure.
In opinion of Jan Van Eck, the head of VanEck financial company, investors start switching from Bitcoin to gold. He said that interest to digital money was growing in 2017 and 2018, but the situation absolutely changed this year. He says that 4000 Bitcoin investors undergone a survey and it turns out that the main investment in 2019 for them in gold.
Tim Seymour, the founder of Seymour Asset Management, this so, too. He said that the cryptocurrencies deal with being a store of value worse than the precious metal.
He says that the cryptocurrencies lost liquidity and it is hard to argue whether the cryptocurrencies may be used a store of value. Gold is better for this purpose, it is out of the question.
VanEck head added that gold exchange funds have higher demand now than the fund shares. Last week, the company announced that it would make one more application for Bitcoin ETF launch.