Analyst: Institutional BTC adoption will be slow amid preference for gold

Global macro analyst Robert Connors said in an interview with CoinDesk that Bitcoin is still too nascent for institutional demand, as central banks and large institutions continue to choose gold. He noted that while Bitcoin has fallen more than 30% from its recent high, the price of gold has surpassed $4,100 per ounce and continues to rise. Connors explained that gold has accumulated trust over hundreds of years and has an established infrastructure for central bank holdings and trade settlements, while Bitcoin remains outside this system. He added that BRICS nations are expanding their gold purchases and some are using it for oil payments, whereas Bitcoin does not yet function as a means of international settlement. Connors concluded that for institutional investors, it is not a choice between the two assets, but rather that Bitcoin does not currently meet their investment regulations and inclusion criteria.