Cryptocurrency analyst Jamie Coates says gold will significantly underperform digital assets in the current market cycle.
Coates says on social media platform
“The AUM (assets under management) of cryptocurrency exchange-traded products (ETPs) is approximately $100 billion (80% BTC).
The assets under management of gold exchange-traded funds are approximately $190 billion.
I'm bullish on gold, but it won't match the expected 2-3x that cryptocurrencies should do this cycle.
This is the birth of a new asset class.”
Coates compares Bitcoin (BTC) and cryptocurrencies now to the stock market boom of the early 1980s. According to the analyst, millennials will likely be able to outperform inflation with cryptocurrencies in the same way that baby boomers have done with their stock investments over the past 40 years.
“2009 is to Millennials what 1982 is to Boomers.
The big secular bull market in stocks began as the baby boomer generation fully entered the workforce.
The great secular bull market for Bitcoin (and blockchain assets in general) took off with Millennials entering the workforce at a time when governments and the boomers they represent decided to punish all subsequent generations for their sins.
No one was punished for the Great Financial Crisis – rewards were honored – and regulatory capture by industry (too big to fail, Big Food, Big Pharma, Big Tech) worsened. The government has decided that the way forward is more debt, less retrenchment and more honesty.
Bitcoin is the antidote, tailor-made for an age of decadence and debt – a new form of hard money made with technology, a financial network that is finally fair and transparent. Moreover, it is an asset that one can self-hold away from banks and governments that will confiscate it when the need arises – as they have done throughout history, and as they do today through inflation.
At the time of writing, Bitcoin is trading at $64,342.
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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should conduct due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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