Gold ETFs spent 8 years recovering their previous high before more than doubling. Bloomberg's Eric Balchunas says Bitcoin, like gold, can endure years of stagnation, but once…
Original source excerpt
Gold ETFs spent 8 years recovering their previous high before more than doubling. Bloomberg's Eric Balchunas says Bitcoin, like gold, can endure years of stagnation, but once sentiment turns, it move…
Gold ETFs spent 8 years recovering their previous high before more than doubling. Bloomberg's Eric Balchunas says Bitcoin, like gold, can endure years of stagnation, but once sentiment turns, it moves up fast "GLD burst onto the scene in the 2000s and was a sensation. It got up to $76 billion very quickly. It became the biggest ETF in the world for like a day. And then it went into an 8-year cave. It sank down, and it took 8 years for it to hit that $76 billion again." "These assets can go through long stretches. The stock market returned zero in the 2000s. The S&P 500, because of the bubble burst and 2008, if you add it up, it was 0%." "What people should focus on here is that Bitcoin is established now. All the big asset managers consider it a tool in the toolbox. It is along with gold, in terms of something you can store value with." "Bonds, by the way, haven't even kept up with inflation. Unless you're tech stocks, I think everybody could be singing the blues a little bit over the past couple of years in terms of ETF flows. It's just how it goes." "Gold ETFs, after they got out of that 8-year cave, they barely looked back. They're now at $180 billion or something. They more than doubled that $76 billion high-water mark pretty quickly after that. Once the sentiment turns, it can go quick, because there's no new supply."
AI context is not available for this statement. The original source can be read independently.