Bitcoin Outperforming Major Stocks (12 October 2020)
Discover how Bitcoin surpassed major stocks in performance as of 12 October 2020, highlighting its growing appeal as an investment.
If you look at the stats from March 2020 when the World Health Organization announced the Coronavirus is a global pandemic and the stocks fell down (and since then recovered pretty nicely) - you can’t ignore the fact Bitcoin outperformed so many stocks - among them it’s the stock of Johnson & Johnson.
Only 3 days ago, on the 9th of October 2020 Johnson and Johnson created a partnership with the European Union to supply over 400 million doses of vaccine against the Coronavirus - for more details see here:
When a stock or a commodity goes up from $5,000 to over $11,360 that is an upside of almost 130%!
Can you compare 36% to 130% ??
But wait a minute - isn’t the world worried or concerned about the Coronavirus? If Johnson and Johnson announced they are so close to get the vaccine then why are investors being numb towards it?
Well, Moderna (Symbol: MRNA) climbed from $28 in March 2020 to $70 in October 2020. That is similar upside to what we’ve seen with Bitcoin and even a bit better (it’s close to 150% whilst Bitcoin made “only” an upside of 130%) - still, would you say Bitcoin is that valuable that investors see it as an important asset that is almost the same as the top stocks in the world?
So here is the kicker, which is also the answer:
Investors around the world don’t seem to be too concerned with the Coronavirus as much as the media is, investors look for the best yields - so yes, some companies like Moderna seem to gain a lot of trust from investors but so is Bitcoin which comes with a lot of volatility.
Bitcoin is gaining trust because investors realize there is simply no better way to transfer funds, the fundamentals behind Bitcoin prove why it could easily replace cash, wire transfers and more.
So the million dollar question is why the Altcoins don’t make such similar gains? The answer is that world economy is based on trust - if you wish to gain trust you have to prove your product is going to be solid for many more years - since Ethereum and Ripple, the top Crypto currencies, are in some way centralized and Bitcoin on the other hand is decentralized and no one really knows where or who Satoshi is - then in that case Bitcoin would continue to outperform other stocks and other Altcoins - only trust is the key to break that trend but it has to be globally.
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