According to a recent report by Bernstein Research, experts suggest that gold investors should consider investing in Bitcoin for higher profitability in the foreseeable future.
Despite Bitcoin’s impressive 71% growth since the beginning of the year, many investors are still skeptical about its long-term potential.
However, Bitcoin has consistently outperformed gold in terms of profitability, such as during the pandemic when Bitcoin outperformed gold by 2.9 times.
The report attributes this skepticism to the “hate the fastest horse syndrome,” where investors fail to recognize the potential for long-term and large-scale profits.
Despite this, Bernstein Research concludes that the preference for gold over Bitcoin is irrational, and investors should consider investing in Bitcoin for higher profitability.
The first cryptocurrency showed an increase of 6.5% on April 11 and has been consolidating around the $30,000 level since then.