Investors Prefer Gold To Bitcoin — Head Of VanEck
Bitcoin is losing popularity among the crypto market investors, who began to pay increasing attention to gold, Jan Van Eck, executive director of the VanEck Associates investment company, stated on the ETF Edge program on CNBC.
The popularity of investments in gold is growing, according to Van Eck. If in 2017 and at the beginning of 2018 the demand for the precious metal decreased slightly due to the rise of the first cryptocurrency, then the opposite situation is observed at the end of 2018 and the beginning of 2019.
The survey of 4000 crypto investors, organized by VanEck Associates, revealed that depositors became more interested in gold. They consider this precious metal a priority for investments in 2019, the head of the company stressed.
Another participant of the ETF Edge, Tim Seymour, creator of Seymour Asset Management, agreed with his colleague and called bitcoin deposits dubious in the current financial and economic situation.
Bitcoin has considerably lost its liquidity indicators, and now, it is difficult to talk about the first cryptocurrency as a means of preserving value. Currently, the primacy in this matter belongs to gold, which should not cause controversy, Seymour stated.
VanEck has created the GDX and GDXJ exchange funds, well-established in the financial market, which track the value of gold and are popular among many investors.
As previously reported, the CBOE withdrew its request for changes in the regulator's rules, which could allow opening a bitcoin ETF of the VanEck and SolidX companies.