As an asset, Bitcoin may be increasingly anti-fragile as well. When Silicon Valley Bank collapsed on March 10, 2023, fears of contagion sent stocks down by over -1% the next trading day, but bitcoin rose by 20%. This “safe haven” price response was a new phenomenon for bitcoin, and time will tell if it persists. But bitcoin is outperforming all other asset classes over the last 1, 3, 5, and 10 years, periods that include many stresses.
Related posts
-
Treasury and IRS Announce Digital Asset Tax Reporting Regulations
The U.S. Department of the Treasury and the IRS... -
BlackRock Global Allocation Fund Reveals Major Bitcoin ETF Stake With 43,000 Shares
In a recent filing with the US Securities and Exchange Commission (SEC), the BlackRock Global Allocation... -
State Street Partners With Galaxy Asset Management to Create New Crypto ETFs
State Street Global Advisors has partnered with Galaxy Asset...