Bitcoin To 'Augment' Gold As The 'Next Strategic Reserve Asset,' Says Expert

Benzinga

2024-11-12

Boosted by post-election euphoria, experts muse whether Bitcoin BTC/USD could potentially close the gap to gold as a strategic reserve asset.

What Happened: Barbara Goodstein, Managing Partner at R360, told CNBC on Monday that BlackRock‘s Bitcoin ETF has now surpassed its gold ETF in terms of assets under management.

This emphasizes the growing investor optimism towards Bitcoin and private equity following the U.S. presidential election.

While gold continues to be a safe haven for investors, the sentiment is gradually shifting towards Bitcoin, with a growing number of investors choosing to invest directly in Bitcoin to avoid tax implications associated with ETFs.

Goodstein pointed out the growing belief that Bitcoin could soon become a strategic reserve asset.

There are predictions that the U.S. government, which currently holds 232,000 BTC, might increase its reserves to over a million BTC.

Rather than replacing gold, Bitcoin is expected to “augment” it, potentially leading to a “Bitcoin Fort Knox,” Goodstein noted.

Also Read: Bitcoin Nears $90,000—How High Can The Apex Crypto Go?

Why It Matters: Bitcoin’s 25% weekly price surge sparked a massive influx of funds into spot Bitcoin ETFs. Farside Investors data shows total Bitcoin spot ETF net inflows of $1.114 billion on Monday.

The surge was led by positive market sentiment and the fear of missing out (FOMO), led both retail and institutional investors to increase their exposure to Bitcoin.

Asset management firm Bernstein on Monday reiterated a robust bullish stance on the crypto market, encouraging investors to "buy everything you can" as Bitcoin surged above $82,000. This bullish sentiment further underscores the growing investor interest in Bitcoin.

What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

Read Next:

Peter Schiff: US Bitcoin Reserve Could ‘Destroy Dollar,’ Predicts It’s ‘Highly Unlikely’ To Happen

Image: Shutterstock

Market News and Data brought to you by Benzinga APIs

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Farside Investors data shows total Bitcoin spot ETF net inflows of $1.114 billion on Monday.</p>\n<p>The surge was led by positive market sentiment and the fear of missing out (FOMO), led both retail and institutional investors to increase their exposure to Bitcoin.</p>\n<p>Asset management firm Bernstein on Monday reiterated a robust bullish stance on the crypto market, encouraging investors to \"buy everything you can\" as Bitcoin surged above $82,000. This bullish sentiment further underscores the growing investor interest in Bitcoin.</p>\n<p><strong>What’s Next</strong>: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.</p>\n<p><strong>Read Next: </strong></p>\n<ul>\n<li><strong>Peter Schiff: US Bitcoin Reserve Could ‘Destroy Dollar,’ Predicts It’s ‘Highly Unlikely’ To Happen</strong></li>\n</ul>\n<p><em>Image: Shutterstock</em></p> </div>Market News and Data brought to you by Benzinga APIs<p>© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.</p></div></body></html>\n<div class=\"bt-text\">\n\n\n<p> 來源：<a href=\"https://www.benzinga.com/markets/cryptocurrency/24/11/41902155/bitcoin-to-augment-gold-as-the-next-strategic-reserve-asset-says-expert\">Benzinga</a></p>\n<p>為提升您的閱讀體驗，我們對本頁面進行了排版優化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FDN","symbol_name":"First Trust Dow Jones Internet I","start_time":0,"source_url":"https://www.benzinga.com/markets/cryptocurrency/24/11/41902155/bitcoin-to-augment-gold-as-the-next-strategic-reserve-asset-says-expert","article_id":"2482830020","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2482830020","pubTimestamp":1731420869,"columns":[],"sourceInfo":{"source_id":"Benzinga","name":"Benzinga Cypto"},"weMediaInfo":null,"summary":"Boosted by post-election euphoria, experts muse whether Bitcoin (CRYPTO: BTC) could potentially close the gap to gold as a strategic reserve asset&lt;/","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"FDN":"First Trust Dow Jones Internet I","BK4585":"ETF&股票定投概念","BK4588":"碎股","BK4594":"比特币ETF概念","BK4550":"红杉资本持仓","FOMO":"FOMO ETF"},"translate_title":"专家表示，比特币将“增强”黄金作为“下一个战略储备资产”","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FDN":0.77,"FOMO":1},"content_text":"Boosted by post-election euphoria, experts muse whether Bitcoin BTC/USD could potentially close the gap to gold as a strategic reserve asset.\nWhat Happened: Barbara Goodstein, Managing Partner at R360, told CNBC on Monday that BlackRock‘s Bitcoin ETF has now surpassed its gold ETF in terms of assets under management.\nThis emphasizes the growing investor optimism towards Bitcoin and private equity following the U.S. presidential election.\nWhile gold continues to be a safe haven for investors, the sentiment is gradually shifting towards Bitcoin, with a growing number of investors choosing to invest directly in Bitcoin to avoid tax implications associated with ETFs. \nGoodstein pointed out the growing belief that Bitcoin could soon become a strategic reserve asset.\nThere are predictions that the U.S. government, which currently holds 232,000 BTC, might increase its reserves to over a million BTC. \nRather than replacing gold, Bitcoin is expected to “augment” it, potentially leading to a “Bitcoin Fort Knox,” Goodstein noted.\nAlso Read: Bitcoin Nears $90,000—How High Can The Apex Crypto Go?\nWhy It Matters: Bitcoin’s 25% weekly price surge sparked a massive influx of funds into spot Bitcoin ETFs. Farside Investors data shows total Bitcoin spot ETF net inflows of $1.114 billion on Monday.\nThe surge was led by positive market sentiment and the fear of missing out (FOMO), led both retail and institutional investors to increase their exposure to Bitcoin.\nAsset management firm Bernstein on Monday reiterated a robust bullish stance on the crypto market, encouraging investors to \"buy everything you can\" as Bitcoin surged above $82,000. This bullish sentiment further underscores the growing investor interest in Bitcoin.\nWhat’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.\nRead Next: \n\nPeter Schiff: US Bitcoin Reserve Could ‘Destroy Dollar,’ Predicts It’s ‘Highly Unlikely’ To Happen\n\nImage: Shutterstock Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. 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