We have said it before and we will say it again; Bitcoin (BTC) has had exponential returns in 2020, projecting the world’s first cryptocurrency to outshine any other traditional asset on the market.
In a recent meeting held by the Federal Reserve, they promised that every financial tool would be used to recover from the Covid-19 pandemic we are currently experiencing.
When they say every tool would be used, what they mean is more money will be printed in order to recuperate the dwindling global economy.
When this announcement was made, it came at no surprise that the price of BTC spiked, reaching $9,400 USD, and surpassing its previous resistance point of $8,000 USD.
This means that BTC jumped to the top of the list and quickly became the best performing asset of 2020, and the decade. On a year to date base, BTC has risen by 23 percent, placing it well above the safe haven asset it has once been referred to, leaving gold and equities biting the dust.
“It’s official. #Bitcoin is the best performing asset of the year (& the decade)” – Alex Saunders.
Bitcoin Leaves Gold And Equities Behind
During the beginning of the Covid-19 pandemic, BTC took a major hit, and lingered through April. However, that soon changed when the cryptocurrency rose by 50 percent from its March lows.
BTC has left gold behind, which only rose by 12 percent in 2020 so far, with other indexes such as the S&P 500 suffering a loss of 8 percent already this year.