Bitcoin costs $ 1 billion worth as Crypto Jump Top other assets

Photographer: Akos Stiller / Bloomberg

Bitcoin is trading at a market value of $ 1 trillion, a boom that is helping the yield of cryptocurrency to outperform the performance of more traditional assets such as stocks and gold.

The largest sign added more than $ 415 billion in value in 2021 to about $ 956 billion, according to data compiled by Bloomberg. The Bloomberg Galaxy Crypto Index, which includes Bitcoin and four other currencies, has more than doubled.

Speculators, corporate treasuries and institutional investors are thought to have promoted the volatile rise of Bitcoin. Crypto believers are questioning the dominant story surrounding the climb: the former sees an asset being embraced because of its ability to hedge risks such as inflation, while the latter feels a predicament that is on top of waves of monetary and fiscal stimulus row.

FOMO – fear of missing out – may be on the agenda, said Shane Oliver, head of investment strategy at AMP Capital Investors Ltd. in Sydney, said and said: ‘in times of easy money it is enlarged and that is partly what drives the current interest. . ”

Bitcoin traded at $ 51,300 in Hong Kong at 1.30pm on Friday after quintupling in the past year. The performance of the crypto index is full of equities, gold, commodities and bonds in 2021.

This month, Tesla Inc. has an investment of $ 1.5 billion and MicroStrategy Inc. increases sales of convertible bonds to $ 900 million to buy even more of the sign. This has brought the currency closer to the US business industry.