Bitcoin (BTC) Will 'Way Outperform' Gold (XAU), Says Prominent Investment Advisor

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Fri, 01/10/2020 - 18:38
Alex Dovbnya

Sorry gold bugs, Bitcoin (BTC) will keep chipping away at the market share of the yellow metal, according to this investment advisor

Cover image via U.Today
Contents

Preston Pysh, one of the hosts of The Investor's Podcast, has recently predicted that Bitcoin (BTC) could continue outperforming gold in the future. Hence, it looks like the cryptocurrency that started it all will take a much bigger piece of gold's pie.  

image by @PrestonPysh

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Gold outperforms the S&P 500 

The U.S. stock market is not running out of steam with the Dow reaching a new all-time high of 29,000. However, gold has been quietly outperforming the roaring U.S. stock market since March 2019.   

As reported by U.Today, gold touched the psychologically important level of $1,600 per ounce due to mounting tensions with Iran. After the Trump administration decided to resolve the Iranian conflict with “cooler heads,” the price of gold took a nosedive. 

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One percent of BTC  

Despite Bitcoin’s 9 mln percent rally in the 2010s, Pysh still believes that investors could allocate only one percent of their investment portfolio to BTC to pocket some stellar gains. He points to the fact that this was enough to match the returns of the other 99 percent invested in the S&P 500. 

Will BTC manage to outperform the S&P 500 in the near future? Share your take in the comments! 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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