Bitcoin to replace gold as top safe-haven asset within a generation
September 14, 2020 (Investorideas.com Newswire) Bitcoin will replace gold as the ultimate financial safe haven within a generation, predicts the CEO of one of the world's largest independent financial advisory and fintech organizations.
The prediction from Nigel Green, chief executive and founder of deVere Group, comes as growing geopolitical uncertainty, including Brexit and the U.S. presidential election, and central banks' historic money printing policies, amongst other issues, are prompting many investors to urgently rebalance their portfolios.
He comments: "For thousands of years, gold has been the ultimate financial safe haven.
"It's always been the go-to asset in times of political, social and economic uncertainty as it is expected to retain its value or even grow in value when other assets fall, therefore enabling investors to reduce their exposure to losses.
"Moving forward, older investors are likely to continue with gold, but millennials and Generation Z, who are so-called 'digital natives', can be expected to go for Bitcoin and other digital currencies instead.
"I believe that the precious metal will lose its crown as the most sought-after reserve asset to Bitcoin within a generation - particularly because the biggest-ever generational transfer of wealth - likely to be more than $60tn - from baby boomers to millennials is already underway."
Mr Green continues: "Bitcoin's key characteristics, such as its fixed supply and how transactions are immutable, distributed, non-sovereign and decentralised are highly attractive for investors in an uncertain but increasingly digitalised, tech-driven world.
"It has already earned it the label 'digital gold' and I believe its status in this regard will grow exponentially over the next year or two, especially with the economic fallout from Covid, central banks' record-shattering levels of money-printing, heightening trade tensions between economic superpowers, and mounting social and political unrest."
The deVere CEO concludes: "Until now, gold has been known as the ultimate safe-haven asset, but Bitcoin - which shares its key characteristics of being a store of value and scarcity - will take over.
"As the world turns ever-more digital and is more and more financially dominated by those who have grown up surrounded by technology, from an investment point of view, gold will increasingly be seen as a relic of the past."
t: +44 207 1220 925
deVere Group is one of the world's largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients. It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement.
This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com