Bitcoin overtook traditional markets and doubled gold profits in the first half of the year.
Despite the global economic turmoil caused by the pandemic coronavirus Bitcoin managed to outperform traditional equity markets and precious metals to profits.
While gold is advertised as a hedging asset against the onset of economic turmoil, Bitcoin is an asset that relies heavily on luck.
Gold prices are trading at $ 1,722 an ounce, up 13% from the beginning of the year. By comparison, the price of Bitcoin has risen more than 31% since the beginning of the year, although it suffered one of the worst days of losses in mid-March.
Recently, Morgan Creek Digital co-founder Anthony Pompiano turned to Twitter to point out the difference between Bitcoin and gold.
Using prices calculated on May 13, Pompliano criticized the Twitter media for continuing to support other asset classes while ignoring Bitcoin:
Last week, legendary investor Paul Tudor Jones II revealed that he had more than 1% of his total assets. distributed in Bitcoin futures as a way to compensate for the devaluation of the fiat currency by banks.