{"id":27924,"date":"2020-08-31T10:06:14","date_gmt":"2020-08-31T07:06:14","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=27924"},"modified":"2025-08-26T23:59:20","modified_gmt":"2025-08-26T20:59:20","slug":"bitcoin-to-attract-institutions-as-the-dollar-weakens","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-to-attract-institutions-as-the-dollar-weakens\/","title":{"rendered":"Bitcoin to attract institutions as the dollar weakens"},"content":{"rendered":"<p>The long-term interest of American institutional investors in gold is likely to bode well for the broad adoption of Bitcoin, according to Dan Tapiero, co-founder of Gold Bullion International and 10T Holdings.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Before institutions allocate to <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#bitcoin<\/a> many will allocate to <a href=\"https:\/\/twitter.com\/hashtag\/Gold?src=hash&#038;ref_src=twsrc%5Etfw\">#Gold<\/a> first.<\/p>\n<p>Huge win that advisors Wilshire Assoc.($168 billion) backed 5% gold allocation for Ohio police\/fireman\u2019s pension.<\/p>\n<p>Fiat debasement leads to gold allocation now\u2026Btc in future.<a href=\"https:\/\/t.co\/FLztB8vyub\">https:\/\/t.co\/FLztB8vyub<\/a><\/p>\n<p>\u2014 Dan Tapiero (@DTAPCAP) <a href=\"https:\/\/twitter.com\/DTAPCAP\/status\/1299850953907150848?ref_src=twsrc%5Etfw\">August 29, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to him, a major step in this direction was taken by the Ohio Police and Fire Pension Fund, which invested $168 billion \u2013 5% of its total investments \u2013 in gold, thereby hedging itself against inflation amid the dollar&#8217;s global downturn.<\/p>\n<blockquote>\n<p>\u201cFiat debasement stimulates investments in gold now and in Bitcoin in the future,\u201d Tapiero notes.<\/p>\n<\/blockquote>\n<p>In early August, the price per ounce of gold reached a record $2,089 amid economic uncertainty in the United States, as interest rates were cut and households received stimulus.<\/p>\n<p>Earlier, billionaire Warren Buffett <a href=\"https:\/\/u1f987.com\/en\/news\/morgan-creek-digital-buffett-bought-gold-will-buy-bitcoin-later\">bought<\/a> almost 21 million shares of Barrick Gold, the gold mining company, for $562 million.<\/p>\n<p>At the same time, the price correlation between gold and Bitcoin doubled over the last three months, reaching a yearly high of 67.1%.<\/p>\n<p>Earlier in March, Dan Tapiero noted that negative rates in the US were a megabullish signal for Bitcoin.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog Feed<\/a> \u2014 all the news, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The growing interest of American institutional investors in gold is expected to bode well for the broad adoption of Bitcoin, according to Dan Tapiero, co-founder of Gold Bullion International and 10T Holdings.<\/p>\n","protected":false},"author":1,"featured_media":27925,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,536,1156,1138],"class_list":["post-27924","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-gold","tag-institutional-investors-and-whales","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27924","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=27924"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27924\/revisions"}],"predecessor-version":[{"id":27926,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27924\/revisions\/27926"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/27925"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=27924"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=27924"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=27924"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}