Bitcoin Is Still 2019’s Best Performing Asset (Even Now)

The Bitcoin news today show that the most dominant cryptocurrency out there is dominating the field of assets. According to reports, the price of Bitcoin is still 2019’s best performing asset – after more than doubling this year – far outpacing the 31% return for US tech stocks which Goldman Sachs deems as the best-performing asset class year to date.

According to executives at data firm Messari, investors are hard pressed to name a better performing asset so far in 2019. Bitcoin prices, which are currently below $8,300, could rally to a new high in the year’s remaining months and top the $12,902 level reached in June, the analysts concluded.

In contrast to BTC, gold is up by only 17% this year, and stocks are growing more. The Standard & Poor’s 500 Index returned 21% through September 30 – while the US Treasury bond is yielding just 1.6% and is close to historic lows.

However, the Bitcoin news updates clearly show who is the winner. The prices for the cryptocurrency finished the third quarter around $8,308 each, which according to Messari, values Bitcoin as an asset that has grown 114% on the year. Investors who bought BTC on the last day of 2018 would have doubled their money.

Still, there is a wide skepticism around Bitcoin on Wall Street. The main concern is that Bitcoin is still vulnerable and that it was invented only a decade ago by a programmer (or programmers) with no real or fundamental, underlying value. Therefore, Wall Street thinks that BTC is just a made-up thing, with a volatile price that only derives from what the next buyer is willing to pay.

With the global economy slowing and trillions of dollars of government bonds from Europe and Japan trading with negative yields, the BTC price gains this year could conceivably attract a new wave of investors who previously would not even take a look.

The year’s price gains show that Bitcoin is still 2019’s most valuable asset – and prove that BTC still may entice big institutional investors like pension funds and endowments, struggling to hit return targets so they can meet obligations to retirees and other beneficiaries.

As we previously showed in our cryptonews section, One of the long-term arguments for Bitcoin is that unlike stocks and bonds whose prices are often sensitive to the decisions of central banks and governments, the crypto is still independent of sovereign authorities.