Bitcoin has seen unprecedented growth as investors and consumers have sought new assets to protect their wealth and purchasing power.
“There is a reason why bitcoin has hit record highs and that is because there is a counter bet going on against fiat currencies,’ said Grosskopf.
Although bitcoin is taking some momentum away from gold, Grosskopf said he is excited that the digital currency’s market value has risen to $2 trillion and is competing with gold.
“When I look at bitcoin, I see investors who have pulled $2 trillion dollars out of fiat currencies, and I love that.
Grosskopf said that if gold wants to compete with the digital marketplace, it has to go digital itself.
Sprott, a global leader in the precious metals market with assets under management of more than $18 billion, hasn’t been quietly sitting on the sidelines of this new digital revolution.