Over the last five weeks, Bitcoin ETFs in the U.S. have pulled in over $9 billion, while gold-backed funds lost more than $2.8 billion. This indicates growing investor interest in Bitcoin as a safer asset amid rising inflation and government debt.
Bitcoin ETF Inflow
Bitcoin ETF, led by BlackRock's iShares Bitcoin Trust, has shown record inflows, including $432 million on May 22, marking the highest amount for this week.
Prospects for Bitcoin and Gold
Bitcoin hit an all-time high of $111,970 on May 22, fueled by optimism surrounding the new stablecoin bill and the U.S.-China tariff war. As of the time of writing, Bitcoin is trading at $105,293.46, down 1.35% in the last 24 hours but up over 55% over the past year.
Critics' Opinions and Bitcoin's Defense
Critics like Peter Schiff continue to question Bitcoin's stability as a safe haven. Meanwhile, analysts like Christopher Wood from Jefferies argue that both Bitcoin and gold offer the best protection against currency debasement. Geoff Kendrick from Standard Chartered adds that Bitcoin's decentralized nature makes it more resilient to financial system risks.
The active interest of investors in Bitcoin ETFs seems to be driven by increasing financial uncertainty. Debates between Bitcoin advocates and critics continue, highlighting differing views on the role of these assets in investment strategies.
