Bitcoin clearly stands out from all other financial products, which is why every investment advisor should now know the crypto-currency, as Erik Voorhees says.
Shapeshift CEO Erik Voorhees strongly believes that any investment advisor must now understand Bitcoin, given the high profitability of the market-leading crypto currency.
Voorhees made this observation in a tweet sharing data from Bitcoin Era crypto market researcher and Messari co-founder Dan McArdle. This in turn showed that Bitcoin has significantly outperformed every other financial product over the last ten years. While gold has gained 32% in that time, the important S&P 500 stock index has tripled investor money, Bitcoin has jumped 7,837,884% in the last decade, making it the clear winner.
Accordingly, Voorhees concludes that Bitcoin „is clearly superior to all other financial products“. From this assumption he derives
„If you didn’t understand it eight years ago, you can forgive that, but any investment advisor who still ignores this phenomenon today should think about his career choice“.
Bitcoin, Gold and S&P 500 in a 10-year comparison Source: CaseBitcoin
Voorhees is not the only one who sees the growing interest of institutional investors as the driving force behind Bitcoin’s current high level of activity. This week, for example, almost half a dozen financial experts have made similarly positive comments about the crypto currency. For example, Genesis CEO Michael Moro predicted on behalf of the company that by the end of 2021, almost 250 listed companies would be invested in Bitcoin.
But no matter how many experts are now campaigning for Bitcoin, gold advocate Peter Schifft nevertheless remains a critic of the crypto currency:
For example, he doubts that investors will actually exchange gold for Bitcoin, but considers it more likely that speculators will buy and sell securities based on the two financial products in order to make short-term profits. He therefore does not yet see a changing of the guard of the precious metal as the market-leading store of value.