Investors will prefer Bitcoin to USD as a means of saving capital
Bloomberg reports on growing faith in Bitcoin among investors who fear a U.S. default
Investors would prefer Bitcoin to the dollar as a means of saving capital in the event of a U.S. government debt default. This is evidenced by the results of a survey Bloomberg Markets Live Pulse. Which was conducted May 8-12 with 637 respondents. 7.8% of professional and 11.3% of retail investors will choose the first cryptocurrency as a protective asset. And while the U.S. dollar will be relied on by 7.8% and 10.2% of investors from the two groups, respectively.
At the top of the list of defensive assets is gold. Despite the fact that the price of the precious metal is currently near its historical maximum ($2,000 per ounce). And it was chosen by about half of surveyed investors from both categories. On the other hand, the report notes the current shortage of alternative assets to gold for hedging.
The second most popular asset to buy in case of default were U.S. Treasury securities. Journalists see a certain irony in this, because it is these debt securities that will probably default. But even pessimistic analysts think. That holders of treasuries will be paid, albeit late, as the article says, which explains the choice of this asset. It will be bought in case of default by 14-15% of respondents.
In third place is Bitcoin, followed by the U.S. dollar, the Japanese yen and the Swiss franc. At the same time, more than 55% of respondents said that a default or even its approach would have a strong negative impact on the dollar as the global world currency. Also, our experts note that another 13.6% of respondents said that significant damage to the U.S. national currency has already been done and it can only increase further.
