RATE Group | Bitcoin Won as Store of Value in Coronavirus Crisis — Hedge Fund CEO
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Bitcoin Won as Store of Value in Coronavirus Crisis — Hedge Fund CEO

02 May Bitcoin Won as Store of Value in Coronavirus Crisis — Hedge Fund CEO

Posted at 10:31h in Bitcoin News by

Bitcoin (BTC) has in fact functioned very well as a store of value before the coronavirus crisis, raw data suggests.

In a Twitter discussion on May 1, Travis Kling, head of crypto hedge fund Ikigai, produced fresh evidence that, despite volatility, Bitcoin has preserved its investors’ wealth.

BTC protected hodlers from “catastrophic event”

Since February, BTC/USD has delivered stable returns of 0.6%, Kling said, smoothing out any pain to “hodlers” sparked by one of the most unnerving financial implosions of recent history last month.

“The price of #Bitcoin increased 0.60% from the end of February to the end of April amidst one of the most catastrophic economic events in history,” he summarized. 

A store of value.

The narrative of Bitcoin as a store of value in its current state has undergone a metamorphosis since the start of 2020. 

After the March crash, the largest cryptocurrency has in fact seen periods during which it was less volatile than traditional markets,…

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