Edward Dowd, ex officer at leading management corporation BlackRock, finds that Bitcoin will enter everyone's wallet. In a recent interview, he said Bitcoin may beat gold if it keeps maturing.
According to Dowd, the cryptocurrency may achieve that due to its ability to be traded digitally and other factors. He predicts that in the next two year, we’ll see an introduction of a new monetary system given discussions over CBDCs, financial markets, and cryptos. The investment manager mentioned that while gold remains a viable asset, Bitcoin would be a better means as a store of wealth as it is easy to trade and it is possible to use for payments.
Dowd believes BTC is here to stay and everyone will hold it in their portfolios. He also is not against gold and finds it isn't a bad idea to have some gold.
Gold and Bitcoin aren't competitors, says Dowd. Instead, they both could have a place in investors' portfolios. Commenting on the ups and downs of Bitcoin, Dowd says it will help the coin to stay longer.