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Bitcoin fund inflows starting to exceed gold inflows

Bitcoin (BTC-USD) spiked to $52,000 for a moment this week as bitcoin funds inflows have continued to come in, outpacing traditional gold funds.

Yahoo Finance's Jared Blikre joins the Live show to put the numbers behind bitcoin and the gold market in context for investors.

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Editor's note: This article was written by Nicholas Jacobino

Video transcript

JULIE HYMAN: Bitcoin is pulling back from the $52,000 level and the popularity of so-called digital gold is widening its lead over physical gold. Jared Blikre is here with a closer look. Hey, Jared.

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JARED BLIKRE: Hey, there Julie. Let's take a look at Bitcoin flows on their own and then we'll get into the gold. Interesting to look back to the very beginning of the pandemic. January of 2020, we saw this huge spike. This was the spike here coincided with the ultimate highs roughly speaking in Bitcoin and a lot of other tokens, also Ethereum. And then we dropped off a cliff. And then what's interesting to me is this was the year of bankruptcies in the year of 2022.

But you see the flows somewhat stabilizing. Arguably, the weak hands were already chased out. But now importantly, we are on the rise again. And Bitcoin exceeds its prior highs. I wouldn't be surprised to see those flows highs taken out as well. And Julie, you mentioned gold. We have two different markets here, two different axes. But I want you to take a look at the shape here. We have Bitcoin flows, and this is all of Bitcoin this goes back to a year earlier January of 2019 and then gold.

So Bitcoin was relatively flat throughout this entire time. Now it is picking up slightly different way of measuring. And then the gold funds, you've just seen this steady, steady drop. Is either one of them actually a great inflation, hedge, that's not up for me to decide here. But just wanted to close on the price here. Bitcoin looking really, really strong. Not this chart, but when we take a look at the heat map, there we go, $52,000 and change $51,777. I think investors will take that.