Bitcoin viewed as 'digital gold' could spur demand from new investors

Coinbase said in a research note on Friday that gold's outperformance could benefit Bitcoin, with investors viewing Bitcoin as digital gold, meaning the cryptocurrency could attract new demand in the current macroeconomic environment. . According to the report, the funds released by spot Bitcoin ETFs represent the most fundamental shift in market structure since the last cryptocurrency cycle. Coinbase remains largely optimistic about the outlook for the cryptocurrency market in the second quarter.