What’s this purple line?
Can you guess now?
It’s digital and the axis at 100,000 isn’t enough
How about 1 million? No.
It has grown in value by almost 65,000x
- In December 2010, 1 BTC = US$0.30
Remarkable performance even if we rebase starting from when daily volume >US$1bn
- Let’s be a bit more realistic and start looking at Digital when there was more significant volume
- We rebase Bitcoin to July 2017 when it traded at about US$2,900 and daily volume was mostly >US$1bn
Digital is an uncorrelated asset class
- Stocks and commodities move together
- Stocks and US$ move opposite
- US$ also moves inversely to commodities and gold
- Gold is a good diversifier
- Digital, hence cryptocurrencies, is uncorrelated
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