In a recent Reddit “Ask Me Anything” session, billionaire Ray Dalio warned investors that the current astronomical pace of money printing is unlikely to stop in the near future and holding wealth in cash could lead to losses. Dalio said that Bitcoin (BTC) “could serve as a diversifier to gold and other such storehold of wealth assets.”
A new report from CoinShares shows that the transition from gold to crypto products may have already started. The report highlights outflows of $9.2 billion from gold investment products and inflows of $1.4 billion into crypto products during the same period. Interestingly, along with Bitcoin, Ethereum funds are also attracting investments.