This comes as Christopher Wood, the global head of equity strategy at Jefferies Group, reduced exposure to gold in his Asia ex-Japan portfolio by 5 percent in favour of Bitcoin.
This is the first time Jefferies has cut exposure to gold and added to the 5 percent already allocated to the top cryptocurrency in December 2020.
NFTs have become a hot commodity globally and celebrities from different walks of life are jumping on the bandwagon to cash in on the boom.