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Gold has a history of doing well in a recession \u2013 but this time Bitcoin<\/a> is an even better investment, as per a Bernstein analyst.<\/p>\n Gautam Chhugani continues to see the world\u2019s largest cryptocurrency as the \u2018safe haven\u2019 since it has performed about five times better than gold<\/a> since 2018.<\/p>\n At 1.8%, he agreed that Bitcoin inflation is comparable to gold inflation for now but said \u201cskeptics miss that every four years, [the former\u2019s] inflation halves\u201d.<\/p>\n The total supply of Bitcoin is scheduled to halve in May of 2024. Historically, that event has resulted in significant price appreciation.<\/p>\n Last week, billionaire hedge fund manager Paul Tudor Jones also said Bitcoin was a better investment than stocks in the current environment (read more<\/a>).<\/p>\n Gautam Chhugani is convinced that capital will flow into Bitcoin further as fears of recession<\/a> continue to swell.<\/p>\n The Bernstein analyst dubs the cryptocurrency a better investment than gold also because it is at a \u201cfairly early stage of institutional adoption\u201d. Significant demand will unlock once the Securities & Exchange Commission approves the first U.S. Spot Bitcoin ETF, he added.<\/p>\n Bitcoin currently has a market cap that\u2019s not even 5.0% versus that of Gold.<\/p>\n BTC soared materially this morning following a report that the regulator has approved iShares Spot Bitcoin ETF. But the news was later confirmed as fake<\/a> and resulted in a sharp pullback that brought Bitcoin back to around the $28,000 level.<\/p>\nBitcoin has a history of outperforming gold<\/h2>\n
Spot Bitcoin ETF will unlock significant demand<\/h2>\n