Bitcoin’s “now or never” moment has come: fund managers on upcoming bull run

The year 2020 has proven to be Bitcoin’s year so far. The asset has beaten stocks, gold and almost every other investment in terms of ROI since the start of the year. Looking at the first ever cryptocurrency, a UK fund manager with billions of pounds under management claims that Bitcoin has reached its “now or never moment”.

Hedge fund managers are preparing to dump gold for Bitcoin
Cypherpunks, tech enthusiasts, and dark web users were the first to take an interest in Bitcoin and cryptocurrencies. Once the general public got wind of the disruptive potential of financial technology – and the wealth it could generate – retail investors joined in at the height of the bubble. The next uptrend in cryptocurrency is expected to be driven by the influx of institutional funds. Although this thesis has been around for years, which goes far beyond the introduction of Bakkt in September last year, it has not caught on.

Institutional interest has picked up again
It is only recently that institutional interest has picked up again after hedge fund manager Paul Tudor Jones compared cryptocurrency to the role gold played in the 1970s. At the time, the asset was trading at just $ 35 an ounce. Today it is worth over $ 2,000 an ounce thanks to decades of poorly managed monetary policy and inflation. Like gold, Bitcoin is said to behave in a similar way due to its digital scarcity in an economic environment characterized by inflation.