Bitcoin price rose higher than other assets. Messari reported that the cryptocurrency closed the third quarter at $8,309. It is 114 percent higher than the same period last year.
Meanwhile, gold only went up 17 percent from the end of 2018. Stock, on the other hand, Standard & Poor’s 500 Index for instance only returned 21% by September 30.
So even within this serous price dive, investor still gain a lot from investing in Bitcoin. If they bought it at the end of last year, their money must have doubled now.
Going double is not the best record for Bitcoin, though. In 2017, Bitcoin price went up to $20,089 at the end of December. It rose up to 20 fold, making it the hottest asset of that year and inviting interests from investors all around the world.
Though not as big as 2017, some said this year’s rise bound to attract more investors. Rumors have spread that world class investors who have never touched cryptocurrency before are starting to get hold of Bitcoin.
Bitcoin: not the safe-haven asset, but still better than others
Of course, the significant rise and dive of the price makes it not the safe-haven asset everyone dreams about. David Martin, chief investment officer at the cryptocurrency investment firm Blockforce Capital, said that “Bitcoin is still a very speculative asset”.
However, it is still better than stocks and bonds. Unlike both that are under governments and banks authorities, cryptocurrency has its own policies. And those policies are hard coded into the network. The system puts it further from sudden change any governments and banks might easily do.
The rules that kept Bitcoin supply at 21 million also puts investors saver from inflation.