Bitcoin ETF Outshines Gold, Reaches New Heights

This: a fund based on a digital currency you might have heard of called Bitcoin has just overtaken a long-standing investment in gold. The iShares Bitcoin Trust (IBIT) is now worth more than the iShares Gold Trust (IAU), which has been a favorite among traditional investors. By Friday, IBIT had gathered around $34. 3 billion in assets under management, while IAU hovered just below $33 billion. But that's not all. Bitcoin, the digital currency, had a impressive surge over the weekend, breaking the $80, 000 barrier. On Monday morning, IBIT saw a 6% jump. This shows how quickly the cryptocurrency world can move, especially when compared to more established investment options like gold. It's interesting to think about why this shift is happening. Could it be the increased interest in cryptocurrencies, fuelled by events like Donald Trump’s presidential victory? Or is it something more, like a growing acceptance of digital currencies? We can only guess, but one thing is clear: the world of investing is changing swiftly.