Bitcoin played the role of a value stock long before the COVID-19 crisis, data show.
In a Twitter discussion, Travis Kling, the head of the crypto hedge fund Ikigai, shared evidence that despite his volatility, Bitcoin has saved investors’ funds.
Since February, the largest cryptocurrency has managed to report a return of 0.60% during extremely turbulent economic conditions.”
The price of #Bitcoin increased 0.60% from the end of February to the end of April during one of the most catastrophic economic events in history. “Kling summed up.
After the March collapse, cryptocurrency was less volatile than traditional markets at times. The lack of correlation with these traditional markets is also a good indication of Bitcoin and its prospects as a stock of value.
BTC inflation will drop to 1.8% in about two weeks. Skew data shows that Bitcoin is the best macro asset over the past year, performing better than gold.
Dan Morehead, CEO of Pantera Capital, commented on Bitcoin.
Bitcoin was born in a financial crisis. It will mature into the present.