According to the Pantera Capital the Figures published on the Bitcoin is the asset with the highest growth since the beginning of the year. Thus, Bitcoin is ahead of Assets such as Gold, Oil and real estate.
Bitcoin enthusiasts have often touted that BTC is the next big investment instrument – preferred compared to traditional investments like Gold and stocks. Exactly, these enthusiasts now have a reason to celebrate, because on may 29. April 2020 Dan Morehead, CEO of Pantera Capital, said that the crypto-currency has outperformed Gold in year-to-date performance.
Bitcoin has since 1. January 2020, a growth of 16% was recorded, while Gold is at 13%.
“#Bitcoin to surpass Gold year-to-date.
Bitcoin was born in a financial crisis. He will grow up in this crisis.“
Bitcoin and crypto-currencies in General, are always compared with traditional systems, particularly during the current COVID-19-outbreak. This has triggered a debate about whether crypto-currencies are a better investment for times of crisis.
In the Morehead published table is to see that stocks, Oil and real estate have negative growth, while Gold and crypto-currencies have flourished.
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Morehead is a long-term Bitcoin supporters
It is not the first Time that Dan Morehead is extremely positive about Bitcoin, he seems to be a vocal supporter of the currency. In a recent investor letter, he explained that Bitcoin will be after the economic crisis in the year 2020 “grown-up” and its all-time price to exceed. This assessment Morehead repeated in his recent Tweets about the digital currency.
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While he has great faith in Bitcoin, it makes gloomy predictions about the world economy as a Whole. In his presentation, according to the upcoming global recession will be worse than anything knows the post-war world.
Already in July 2019 Morehead had predicted that Bitcoin would come to the end of the year to 42,000 dollars and some time later reached 356,000 dollars.
In the “Unchained”Podcast, he also suggested that would improve the technology behind the crypto currency, more users to accommodate. This optimism did not extend to all Coins, because he believes that most of the Altcoins will eventually fail.
“For Bitcoin to the end of 2019 at 42,000 dollars, which sounds crazy, but basically we have managed half of the way was.”
Will Bitcoin grow up in times of crisis?
The last months were for investment, and Assets overall, interesting. The outbreak of COVID-19 had currencies have a tremendous impact on the world economy, including crypto. Some, such as Morehead have theorized that Bitcoin tyre in this time and place as the investment of choice in uncertain times is secure.
His growth this year despite the outbreak could be a proof for this theory. One of the possible reasons for this is that Bitcoin was designed to the 2008 recession and thus for it to be built, an economic crisis to cope with.
Another possibility is that the accessibility of the currency, BTC makes in comparison to an asset such as real estate is easier to invest in a crisis or to withdraw from it.
However, not all think so. Both Gold and Bitcoin suffered in February and March of the year Price drops.
Since then, the price of gold has risen sharply and is now approaching a seven year high. Bitcoin has recovered somewhat, but still a long way to a seven-year high pre.
This will be led by Gold proponents as a reason for why it is the superior system.
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