Why bitcoin is the millennial gold

After smashing multiple records in recent weeks, Bitcoin is on track to become the gold of the future, investment experts say.

A week into 2021, its price topped $37,000 (€30,265), more than quadrupling its value in the past year. In recent weeks, the Grayscale Bitcoin Trust gained over $3 billion (€2.45 billion), according to a note published Tuesday by investment bank JPMorgan. Gold, meanwhile, saw some $7 billion in outflows.

"Bitcoin's competition with gold has already started in our mind," the JPMorgan strategists wrote.