Getting towards the end of the first half of 2019 and Bitcoin has outpaced the stock market by almost 10 times.
Morgan Creek Digital CEO Anthony Pompliano noted that Bitcoin’s price ($8000+) is up by about 111 percent in 2019. Meanwhile, by comparison, stocks have risen only 12 percent within the same period.
Between April and May alone, BTC has added $2,000 to its market price. Such is the extent of Bitcoin’s 2019 run that as eToro’s Mati Greenspan puts it:
At this point, a $200 move in the price of Bitcoin could easily lead to a move of $2,000.
Speaking recently to CNBC, billionaire venture capitalist Tim Draper pointed out the emergence of investor fatigue for some of the companies like Uber that have newly gone public.
According to Draper, established brands going public aren’t going to experience massive price growths. Instead, Draper expects stock value increases between 10 and 20 percent.
Bitcoin bulls, however, don’t envisage any price fatigue for the top-ranked cryptocurrency by market capitalization. BTC has so far remained in close proximity to the $8,000 mark in May despite a few downward retracements.
Bitcoin’s stock as a great investment portfolio diversifier might come into even more significant prominence on the back of an imminent market decline.
Do you think everyone should own some Bitcoin?
Share a few words!