Whenever someone thinks about investing in assets, the first thing that comes to mind is ‘Gold’. This precious metal has the entire world under its spell ever since it was discovered. Even if the entire world’s economy dips down to the lowest of its levels, gold would still be in business.
Even in the time of the COVID-19, the prices of gold seemed unscathed and continued showing upward price trends. Even many commodity trading firms reported that they observed a significant amount of increase in their trades. All of these trades and investments were processed against Gold.
However, Bitcoin (BTC) has emerged as the only investment asset that has snatched the crown from gold investments.
In the current year, the precious metal has demonstrated the biggest investment returns in a decade. Even then, it has not been able to beat Bitcoin (BTC) that just popped out of nowhere in 2009.
In the recent data gathered around the assets, it has been revealed that it is not just gold but every investment asset that Bitcoin (BTC) has taken down. Based on the current events, it has been predicted that the Bitcoin (BTC) will engulf the entire financial industry.
In the year 2020, the Bitcoin (BTC) has demonstrated the best quarterly closes for two quarters in a row. Beating all other investment assets, Bitcoin (BTC) has experienced fifty percent increase in its value in the running year.
Gold being the second largest investment asset was only able to achieve half (25.6%) of the Bitcoin’s (BTC) increased percentage.
The cryptocurrency economists and commentators have also commended the performance of Bitcoin (BTC) as an investment asset. They added that Bitcoin (BTC) has demonstrated great potential and growth in the current year.
It is all because of the fact that in the COVID-19 situation, it was only the cryptocurrency industry that provided safe haven to the people in need. Since 2009, as Bitcoin (BTC) has remained the top cryptocurrency as per capitalization, people feel safer investing in this crypto than any other. This is why it has become the largest investment asset of the year 2020.