Jan Van Eck, CEO of Van Eck Associates, implied that Bitcoin (BTC) investors have transferred to goldduring an interview with CNBC published on Jan. 26.
Van Eck announced that he believes"which Bitcoin pulled a little demand from gold last year, in 2017." Afterward, he concluded:
"Lately, we only polled 4,000 Bitcoin investors and their number one investment for 2019 is actually gold. So gold lost to Bitcoin and now it's going another way."
"Not only have we lost all of liquidity on the underlying [commodity] but truly outside the existential blockchain debate, but it's been rather tricky to argue store of value which is really what we began hearing about. Gold is a store of value and there is no disputing that."
Van Eck's firm created what CNBC described as the most well-known gold ETFs, especially the GDX golden miners ETF as well as the GDXJ junior gold miners ETF. Van Eck announced that those assets"have been behaving tremendously well over the previous a couple of weeks" before underlining that they apparently do the contrary of that which stock markets do.
"In the majority of the times in Q4 when the S&P was down, GDX was upward," he stated, before concluding"which decoupling makes me excited about golden shares as a diversifier." Additional based on CNBC, the GDX ETF grew by 14 percent from the fourth quarter, which as stated by this report is its best performance as Q2 2016. Additionally, the GDX is upward under 1 per cent this year, since the S&P 500 grew 6 percent.
As Bitcoinnetmagz recently reported, the Chicago Board Options Exchange's (CBOE) BZX Equity Exchange has pulled its request for a rule change by the United States Securities and Exchange Commission (SEC). The requested change was intended to permit the listing of this ETF endorsed by VanEck and financial solutions firm SolidX.