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26.11 - 15:13
'#DropGold worked' — Grayscale 'flippens' world's largest gold fund as AUM hits $60B
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Bitcoin (BTC) an altcoin investment firm Grayscale now has more assets under management (AUM) than the world's biggest gold fund.
According to the latest data from issuer Grayscale, Grayscale now controls over $60 billion — $1.7 billion more than leading gold fund, SPDR Gold Shares (GLD).
Grayscale's flagship Bitcoin product, the Grayscale Bitcoin Trust (GBTC), meanwhile contains over 646,000 BTC, worth around $41.75 billion as of Nov. 11.
The figures add to the debate over gold as a store of value and inflation hedge versus Bitcoin, as inflation cuts through the U.S. and global economies.
With gold flagging compared to BTC/USD, the allure of giving capital Bitcoin exposure has arguably never made more sense.
A month after the first Bitcoin
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