CoinShares’ chief strategy officer believes that Bitcoin is not the most volatile asset this year compared to Tesla’s shares after the company was added to the S&P 500.

Bitcoin is not the most volatile asset

According to an article published by CNBC, Meltem Demirors, chief strategy officer of the CoinShares crypto fund, believes it has not proven that Bitcoin is the most volatile market asset during 2020.

Meltem Demirors, who participated in the Squawk Box Asia program on CNBC, pointed out that all major assets are seeing volatility rise.

Demirors stated that Bitcoin’s volatility decreased in 2020 compared to the stocks of some tech giants.

In particular, he spoke about the enormous gains in Tesla shares; The company was added to the S&P 500 index on December 21st.

Tesla’s shares have increased 676 percent so far this year. Compared to these gains, Bitcoin’s 220 percent increase seems modest.

Demirors remind viewers that volatility is a relative measure and that in the current market setting, Bitcoin is less volatile than before.

Another $ 900 billion incentive is coming

This year, Bitcoin is believed to be pushed toward five-digit gains, with the massive wave of monetary stimulus measures undertaken by world central banks.

Overall, more than $ 6 trillion was minted for the rescue and $ 1,200 stimulus vouchers were issued by the Federal Reserve and the Trump administration.

See Also
While Ethereum Price Hit The Record, It Left Behind Bitcoin In Daily Transactions!

Now, another incentive worth $ 900 billion was approved by the US Congress on December 20. According to CBS News, each US citizen will be paid a total of $ 600.

Unlike the dollar and other fiat currencies, the Bitcoin supply cannot be artificially increased at the will of banks and governments. The steady supply of 21 million BTC has become one of the features that make it a safe haven and an inflationary measure known by the crypto community as famine.

LEAVE A REPLY

Please enter your comment!
Please enter your name here