{"id":126028,"date":"2020-12-04T08:41:55","date_gmt":"2020-12-04T05:41:55","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/every-asset-manager-must-understand-bitcoin-erik-voorhees\/"},"modified":"2020-12-04T08:41:55","modified_gmt":"2020-12-04T05:41:55","slug":"every-asset-manager-must-understand-bitcoin-erik-voorhees","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/every-asset-manager-must-understand-bitcoin-erik-voorhees\/","title":{"rendered":"# Every asset manager must understand Bitcoin \u2014 Erik Voorhees"},"content":{"rendered":"

“# Every asset manager must understand Bitcoin \u2014 Erik Voorhees <\/strong>”<\/p>\n

Shapeshift CEO Erik Voorhees has drawn a metaphorical line in the financial sand, stating that every asset manager should understand Bitcoin now based on its astonishing rate of return.<\/p>\n

Voorhees made the comments<\/a> while retweeting data shared by analytics platform Messari co-founder Dan McArdle that shows Bitcoin has dramatically outperformed everything over the last decade. While gold has returned a 32% profit and the S&P 500 has trip<\/a>led investors\u2019 money, Bitcoin has posted an incredible 7,837,884% gain in ten years.<\/p>\n

Looking across its 10-year life, Voorhees believes Bitcoin is \u201cvastly superior to any other investment.\u201d He said that: <\/p>\n

\u201cOne could be forgiven for not understanding it eight years ago… but any asset manager today who remains ignorant of this phenomenon needs to seriously check their premises.\u201d<\/p><\/blockquote>\n

Bitcoin, Gold, and the S&P 500 10 yr ROI vs. USD. Source: <\/em>CaseBitcoin<\/em><\/a><\/figcaption><\/figure>\n

Voorhees is not the only one discussing the recent embrace of Bitcoin by traditional finance that is believed to underpin the latest rally. This week alone half a dozen figures with expertise in the traditional finance world made similarly bullish observations. On Dec 2. Crypto trading firm Genesis CEO Michael Moro predicted<\/a> that 250 publicly traded companies will invest in Bitcoin by the end of 2021.<\/p>\n

On Dec. 4, former JP Morgan commodity trader Danny Masters told CNBC that soon it will be a \u201ccareer-risk for not having Bitcoin in your portfolio.\u201d <\/p>\n

Also this week, BlackRock chief investment officer Larry Fink warned that Bitcoin\u2019s success could have a real impact on the U.S. dollar, and will even \u201ctake the place of gold to a large extent.\u201d This fits with Gold Bullion International co-founder Dan Tapiero\u2019s recent assertion that it\u2019s only a matter of time before Bitcoin\u2019s price surges into the six-figure threshold. <\/p>\n

Of course, no matter how many pundits back Bitcoin, or how much money institutions put into it, gold bug Peter Schiff, will remain unmoved:<\/p>\n

\n

Some have postulated that investors are selling #gold<\/a> and buying #Bitcoin<\/a>. Since they have nothing in common, I doubt that’s happ<\/a>ening. But some speculators may be selling gold stocks and buying GBTC, with gold stocks falling as gold rises, and GBTC trading up to a 25% premium.<\/p>\n

\u2014 Peter Schiff (@PeterSchiff) December 3, 2020<\/a><\/p><\/blockquote>\n