"We are seeing a shift in institutional investment preferences as Bitcoin solidifies its role as a potential high-growth investment vehicle," said The Block, noting that Bitcoin is up more than 46% in the past month, while gold prices are down more than 3%. At the time of writing, gold was trading at over $2,600 per ounce, down from a record high of $2,787 in late October. Bitcoin, on the other hand, has risen from the $68,000 level to $98,000 over the same period. Nigel Green, CEO of deVere Group, commented: "Bitcoin is increasingly seen as an inflation hedge and portfolio diversifier. Institutional interest is at an all-time high and the infrastructure to support mass adoption continues to expand."

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