This week a report by JPMorgan Chase & Co. was published stating that, given the need for an alternative asset, the young have decided to trust Bitcoin while the older have turned to gold.
Do young people trust Bitcoin?
Previously from CryptoTrend we have pointed to the controversial debate about what could be better, Bitcoin or Gold, and we have always concluded that it depends on multiple factors.
The JPMorgan report cited by Bloomberg found that investors in general have indeed decided to seek alternative assets during the pandemic in the face of uncertainty. However, the decision about which asset may be better may become subjective.
Nonetheless, JPMorgan seems to have found a pattern given that it points out that older investors see security in gold, while younger investors see it in Bitcoin.
But it does not end there, but the report also indicates that young people seem to bet on technological stocks, while older investors prefer to sell stocks.
Even so, this pattern is not restrictive, since, as we have observed, various traditional investors have begun to see Bitcoin as potential.
Meanwhile, Bloomberg maintains that the price of Bitcoin is stabilizing at six times the price of an ounce of Gold. But, it does not end there, but Bloomberg maintains its idea that Bitcoin is undervalued.
Will JPMorgan be right about the preference patterns over Bitcoin and Gold?
MicroStrategy targets Bitcoin
Closely related to the previous news, MicroStrategy, the business software firm, reported during an ‘Earnings Call’ that it plans to invest up to $ 250 million in alternative assets, including Bitcoin and Gold, in the coming months.
This was reported by The Motley Fool who made a transcript of the call where Michael Saylor, CEO of the company, pointed out that the decision comes under the terrible performance of the US dollar.
In this sense, Saylor emphasized that we can no longer wait for returns from dollar cash. “Gold, silver and Bitcoin show strength”, he pointed.
Bitcoin mining in China under threat
As we reported today in CryptoTrend, China is currently in the rainy season that has generated significant floods in the country.
This event is particularly important for Bitcoin mining that takes place in the country. Although at one point they were seen as a blessing for reducing costs, the rains now threaten the centers to flood.
In fact, the media reports that the floods have caused 144.43 million yuan in costs.
Telegram CEO raises his voice in defense of TikTok
Previously in CryptoTendencia we reported on the intentions of the President of the United States, Donald Trump, to ban TikTok and its possible effects on Bitcoin and cryptos.
Now, Pavel Durov, CEO of Telegram, establishes that this could “kill the Internet”.
Basically Durov states that such a ban could be used as a precedent by authoritarian leaders. “Soon, all major countries are likely to use ‘national security’ as a pretext to fracture international tech companies. “ he pointed.
Anthony Pompliano predicts a Bitcoin at $ 400,000
We could believe that over time we have learned not to make predictions, especially after 2020 that has surprised us all. However, Anthony Pompliano takes a risk and states that Bitcoin will hit $ 400,000.
The reason is that Pompliano believes that Bitcoin will become a larger market than gold. What do you think? Will BTC reach those levels?
In a few lines …
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