RATE Group | Bitcoin Is 2019’s Best-Performing Asset, Even After Recent Price Downturn
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Bitcoin Is 2019’s Best-Performing Asset, Even After Recent Price Downturn

06 Oct Bitcoin Is 2019’s Best-Performing Asset, Even After Recent Price Downturn

Posted at 04:35h in Bitcoin News by

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The Takeaway

  • Bitcoin prices have more than doubled in 2019, far outpacing the 31 percent return for U.S. tech stocks, which Goldman Sachs deems the best-performing asset class year-to-date.
  • Outsize returns could attract interest from big investors in the yield-starved traditional financial markets.
  • Executives at data firm Messari say bitcoin prices, currently around $8,200, could rally to a new high in the year’s remaining months, topping the $12,902 level reached in June.

Investors would be hard-pressed to name a better-performing asset class so far in 2019 than bitcoin.

Gold? Up 17 percent since Dec. 31. Stocks? The Standard & Poor’s 500 Index returned 21 percent through Sept. 30. Bonds? The 10-year U.S. Treasury bond is yielding just 1.6 percent, close to historic lows.

And bitcoin? Prices for the cryptocurrency finished the third quarter around $8,308 each, according to data provider Messari, up 114 percent on the year. Investors who bought on the last day of…

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