Bitcoin is the best investment in 2020. This is what it states Moon (and not only). In fact, when comparing the performance of Bitcoin with that of other fintech assets, it appears that from the beginning of the year to date, Bitcoin is the asset that has registered the best performance.
In fact, Luno reports the following data on the profits of the large fintech giants listed on the stock exchange, with movements registered as of January 1, 2020:
- Bitcoin + 87%;
- Amazon + 74%,
- Apple + 57%,
- Facebook + 36%,
- Google + 18%
The CEO of Luno, Marcus swanepoel, Explain:
“While there was not a single asset in the market that was not adversely affected by the effective shutdown of economies around the world, Bitcoin has certainly emerged stronger only a few months later.
Bitcoin has outperformed the share price of some of the largest companies on the planet, including Google and Facebook, as well as traditional options like gold, which bode well and serve to make it a more attractive asset for new investors. "
Bitcoin as the best investment. What influenced the BTC boom?
These data generate some considerations. Bitcoin, like the entire financial market, suffered greatly from the panic caused by the Coronavirus, so much so that in the days leading up to March 12 and 13 it had fallen below $ 4,000, losing 20% of its value in one hour and collapsing due to the highs of February, when it returned to above $ 10,000.
Then Bitcoin started a slow climbing , also fueled by the excitement that accompanied the May 11 halving. The halving converted to Bitcoin an even more scarce commodity, cutting the miners' rewards in half and making their production less and less profitable. Its deflationary nature seems to please investors, who fear the consequences of the injection of liquidity from the Fed, which is pushing something like $ 3 trillion into the market.
Perhaps this has caused the price of Bitcoin to rise, along with its adoption by large institutional investors. Suffice it to mention a few names: Paul Tudor Jones, MicroStrategy, Square, and others have invested heavily in Bitcoin.
The other assets mentioned by Luno also performed well and certainly benefited from the lockdown. For example, Amazon has seen its turnover grow because the closure of physical stores has diverted purchases to e-commerce platforms.
ManzanaOn the other hand, it owes its growth to a couple of strategic decisions: to have expanded its production to include “low-cost” iPhone models such as the iPhone SE, and to have focused on a strong renewal for the iPhone 12.
But no one seems to have managed to do better than Bitcoin, which today is worth $ 13,500, and in recent days has reached peaks of $ 13,800, values that were abandoned in January 2018.
That was during the full speculative bubble, a bubble that was bursting. Today the situation is different and Bitcoin can aspire to reach never before seen records that will only increase the number of investors who will believe in the queen of cryptocurrencies.