Abnormal growth in the value of bitcoin and sharp demand for it is due to the desire of investors to protect their savings from inflation, according to analysts at investment bank Deutsche Bank. Printing machines in the US and the EU will very quickly fill the economy with cheap money, with growing problems in the US and the EU, confidence in the dollar and the euro is falling.
And the closer the vaccination, the less fear and more willingness of investors to take risks and get high returns. In these conditions, the attractiveness of bitcoin for savings and investment has grown. In second place in terms of profitability is gold.
The return on investment in bitcoin has already risen to 147% per annum. Gold has risen by only a third since the beginning of the year, and bitcoin by 2.5 times.
If gold was constantly updating value records in the difficult days of the pandemic, reaching $ 2080 for the first time in history, now the demand for the precious metal has declined along with investors’ fear of the collapse of the world economy. Bitcoin has risen by 25% in the last month, along with the first news about the success of vaccines, while gold has fallen by 5% at the same time.
Investors’ fear of future inflation in the US and the EU has accelerated demand for bitcoin. Stefan Ulrich, chief investment strategist at Deutsche Bank, warns of rising inflation due to soft monetary policy in the US and the EU.
The printing press is not expected to stop in the EU and the US, so trillions of money are being poured into the economies of the Old and New Worlds. The United States is ready and awaiting approval of a new package of aid to markets and the economy for 2 trillion dollars. “The ECB has increased its balance sheet by two trillion euros in 2020, and the Fed’s balance sheet has grown by as much as three trillion US dollars. The end of expansionist monetary policy is not expected,” – said the strategist of Deutsche Bank.
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