As Bitcoin’s price rose to an all-time high, South Korean cryptocurrency exchanges have officially surpassed the value of the countries stock market while Bitcoin becomes the best performing asset of the last decade.
The leading cryptocurrency has reached a market capitalization of about $1.1 trillion after experiencing a surge in its value that saw it reach an all-time high of $61,711.87 back on Mar 13 of 2021, marking a new milestone for the cryptocurrency market.
Cryptocurrencies Keep Expanding
While Bitcoin has seen major points of resistance over the past years, the coin has steadily continued to climb in value ever since its crash in 2018 and 2019, with 2021 seeing it raise in value sharply as its value increase by more than 300%.
However, the success during 2021 is not limited to Bitcoin as the entirety of the crypto market has experienced increased values and investments from individuals and organizations around the world.
Personalities like Elon Musk, Mark Cuban, and Taylor Swift continue to be vocal about their support toward cryptocurrency and NFTs.
Bitcoin is Now One of the Best Performing Assets in 2021
Earlier on March 13th, before the surge in value experienced by Bitcoin, Messary researcher Roberto Talamas tweeted a chart comparing the performance of the Cryptocurrency with other assets like Nasdaq 100. EAFE stocks, Gold, US dollar, and others.
The information compiled by Mr. Talamas shows that over the last decade, Bitcoin’s Annualized returns were 230.6%, about 210% higher than the entirety of the Nasdaq 100 and other types of assets.
Despite being constantly referred to as “digital gold”, the data shows that gold’s annualized performance was 1.5%, which is consistent with its status as a hedging tool but shows a clear difference between the two assets.
While the data is not enough to compare the different assets comprehensively, it reflects the growing popularity of digital assets which has been lead by Bitcoin.
So far in 2021, the entirety of…