Morgan Creek Digital co-founder Jason Williams believes investors are about to flock into Bitcoin at the expense of gold.
In an interview with Layah Heilpern, Williams says that he expects investors to desert gold while shorting it at the same time as capital moves out of the yellow metal and into Bitcoin.
ADVERTISEMENT
The executive of the hedge fund specializing in digital assets argues that gold’s declining relevance is one of the reasons for the mass exodus.
“I don’t even understand… as a store of value asset, it’s not working anymore.”
Williams also explains that the need to secure and store physical gold is a big turnoff for young people.
“I feel like young people feel that way about gold. I just can’t imagine you saying you know what, I’m going to go and buy a safe and I’m going to bolt the safe to the wall and the floor. And then I’m going to load the safe with like I don’t know kilos of gold and silver.’ Like, I don’t even think you want your life to be that tied down.”
Besides being a better store of value, Williams adds that Bitcoin is a predator asset that has consistently appreciated 3x each year on average.
“Bitcoin is not only good money – it’s sound money. But it’s also this amazing like apex predator asset that can grow and has grown 200% historically year-over-year.”
As for BTC’s price movements in the coming months, the Morgan Creek Digital co-founder notes that he expects Bitcoin to continue its feverish ascent.
“$100,000 in October… $100,000, this is super conservative. I mean, I’m going to be way off and low. I’m saying $100,000 by October 31st but I don’t really believe that at all… I think that we get far beyond $100,000 by October 31st.”
I
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
ADVERTISEMENT
ADVERTISEMENT
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Makhnach_S/Maxx-Studio
Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://dailyhodl.com/2021/03/16/investors-will-begin-to-short-gold-amid-mass-exodus-to-bitcoin-predicts-morgan-creek-digitals-jason-williams/
