Crypto analyst Jamie Coutts says gold will significantly underperform digital assets in the current market cycle.
Coutts said on social media platform
“Cryptocurrency Exchange Traded Products (ETP) AUM (assets under management) is approximately $100 billion (80% in Bitcoin).
Gold ETP AUM is approximately $190 billion.
I'm bullish on gold, but I don't think it will be anywhere close to the 2-3x expected for crypto this cycle.
This is the birth of a new asset class. ”
Coutts compares the current state of Bitcoin (BTC) and cryptocurrencies to the stock market boom of the early 1980s. According to the analyst, millennials are likely to outperform inflation with cryptocurrencies, just as baby boomers have done with stocks over the past 40 years.
“2009 is to Millennials what 1982 is to Boomers.
The great secular bull market in the stock market began with the boomer generation entering the workforce in earnest.
The massive secular bull market in Bitcoin (and blockchain assets in general) is due to Millennials entering the workforce at a time when governments and the Boomers they represent are determined to punish all subsequent generations for their own sins. It started with my joining.
In the GFC, no one was punished, bonuses were honored, and the regulatory crackdown by industries (too-big-to-fail banks, big food, big pharma, big tech) only got worse. . The government decided that the path forward was one of debt and degradation rather than temperance and honesty.
Bitcoin is an antidote built specifically for an era of degradation and debt, a new form of technologically synthesized hard money, and a financial network that is finally fair and transparent. Moreover, it is an asset that can be kept in self-storage away from banks and governments, where it can be confiscated when the need arises – as they have done throughout history and as they do today through inflation. ”
At the time of this writing, BTC is trading at $64,342.
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Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should perform due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that transfers and transactions are made at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets. The Daily Hodl is also not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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