XRP Outshines Gold, Stocks, And Bitcoin As Thailand’s Best Asset
According to reports citing Thailand’s financial regulator and local market data, XRP posted the strongest year-on-year return among major assets in the country. The cryptocurrency recorded about 390% gains compared with the same period last year, and it has held the top spot for nine consecutive months, based on the figures released. Related Reading: United […]
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Bitcoin (BTC) four-year compound annual growth rate (CAGR) has declined to 14.5%, the lowest rate on record. However, despite the slump, the premier cryptocurrency has given better returns than gold and stocks. Bitcoin CAGR Drops To Lowest Rate Ever Over the past year, BTC has experienced significant price action, setting multiple all-time highs (ATHs) despite the US Federal Reserve’s (Fed) hawkish stance, which included raising interest rates to curb inflation. Data from CoinGecko shows that BTC has surged 88% over the past year. Related Reading: Bitcoin Dominates 2024, Outperforms Gold....
Gold-backed tokens are getting increasingly popular as a more accessible alternative to investing in physical gold. What is a gold-backed cryptocurrency?A gold-backed cryptocurrency is a type of digital currency that is backed by physical gold. The currency’s value is based on the current market price of gold and can be used for transactions just like any other type of cryptocurrency.Some cryptocurrencies are backed by gold in order to tie the derivative asset (crypto) to a tangible asset (gold), thereby preventing excessive fluctuations in price. Thus, gold-backed cryptocurrency is often....
BTC used to be an uncorrelated asset, but that’s no longer the case. What can gold and stocks suggest about the crypto markets? Bitcoin (BTC) is an uncorrelated asset, or so the narrative used to go. For much of Bitcoin’s lifetime, it existed as something of value to a very small group of people. Now, awareness and demand are accelerating rapidly. So, what does this mean for the status of BTC as a supposedly uncorrelated asset? That Bitcoin was an uncorrelated asset isn’t just conjecture — the numbers back it up. According to data compiled by VanEck in early 2021, there was almost no....
According to analyst Lyn Alden, bitcoin's correlation to stocks or gold depends on bitcoin’s own cycle.
Rand Paul thinks it would be a good idea to back Bitcoin with stocks or other assets. The idea of "backing" Bitcoin with some kind of tangible commodity or asset is back in the news again due to a recent statement from Senator Rand Paul. The Senator from Kentucky stated that he'd like to see Bitcoin backed by a basket of stocks because he believes that a currency should be "backed up by [something tangible]". While the idea of combining gold and Bitcoin has already been floated by Jim Rickards and others, it completely misses the point of what Bitcoin is supposed to be. Bitcoin is the....