RATE Group | Bitcoin Doubling Gold’s Yearly Gain So Far
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Bitcoin Doubling Gold’s Yearly Gain So Far

16 May Bitcoin Doubling Gold’s Yearly Gain So Far

Posted at 07:28h in Bitcoin News by

Amid unstable global financial conditions, Bitcoin continues its path as a juicy-looking hedge asset, based on its gains comparative to gold. 

Sitting at a press time price of $1,717 per ounce, gold has risen approximately 12% from the start of 2020, TradingView data showed. In the same time frame, Bitcoin boasts a 30% gain, at a value of $9,290 at press time.

Bitcoin shines against mainstream markets

Coronavirus fears and prevention measures sent crypto and mainstream markets into a downward spiral. Bitcoin hit its most recent low on March 13, while traditional markets eventually lagged behind, posting a less dramatic recovery. 

An increasing number of mainstream personalities have entered the crypto space in recent days, including hedge fund manager Paul Tudor Jones. 

Morgan Creek Digital co-founder and partner, Anthony Pompliano, mentioned Bitcoin’s 2020 gains compared to gold in a May 13 tweet.

“I won’t hold my breath for the media to write articles stating ‘Bitcoin proving to be…

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