Bitcoin is not for everyone and that’s fine,“ says VanEck executive

Gabor Gurbacs, VanEck’s digital asset manager, mentioned on his Twitter that Bitcoin wasn’t an asset for everyone, though, he said that’s okay. As a point of comparison, Gurbacs said that, in the case of gold, only 1% of the world’s investment portfolios own it and it is still an asset with an $8 trillion market capitalization.

In his opinion, „it is not absurd“ to consider that Bitcoin’s capitalization could reach trillions of dollars with only a „moderate adoption“.

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PlanB, a well-known trader and advocate of the stock-to-flow scheme for Bitcoin pricing, agreed with Gurbacs and mentioned that in his opinion, mass adoption is very „overrated“.

In response to PlanB’s proposal, VanEck’s executive explained that it was necessary to „check the reality on the side of Bitcoin adoption as well as on the side of the stock. He also shared that adoption projections are usually overestimated while the stock market is underestimated.

Investment funds‘ interest in Bitcoin is growing

While Gurbacs expressed its opinion about the adoption of Bitcoin in investment portfolios, institutions are showing more interest in Bitcoin’s performance as an asset.

The open interest in Bitcoin options in CME has risen 1000% so far this month
As mentioned earlier in Cointelegraph, billionaire fund manager Paul Tudor Jones II publicly stated this month that he is buying Bitcoin to protect himself from the inflation that will be generated by the Bitcoin Trader Review / Immediate Edge Review / Bitcoin Method Review / Bitcoin Compass Review / Crypto Trader Review printing of money to alleviate the Coronavirus crisis. Specifically, he mentioned that Bitcoin is part of the 1% of the assets of his investment portfolio.

The Chicago Mercantile Exchange, which operates different institutional products for investment in Bitcoin, also explained that they are breaking records in the number of Bitcoins that are being marketed in their products for institutional investors.