Getting close to the end of the first half of 2019, Bitcoin has already outpaced the stock market by almost 10 times.
Scorecard of 2019 so far: Bitcoin 111%; Stock Market 12%
CEO of Morgan Creek Digital, Anthony Pompliano, on Friday tweeted after noting that the price of Bitcoin $7943.51 -0.42% is up by about 111% in 2019, in comparison with stocks which have risen just 12% within the same period.
Just in the months of April and May alone, Bitcoin market price has increased by $2,000 to its market price. Such is the extent of Bitcoin’s 2019 run that as eToro’s Mati Greenspan puts it: “At this point, a $200 move in the price of Bitcoin could easily lead to a move of $2,000.”
Billionaire venture capitalist, Tim Draper speaking recently to CNBC, pointed out that some companies like Uber are experiencing investor fatigue. Draper said that established brands going public aren’t going to experience massive price growths. Instead, Draper expects the stock value to rise between 10% and 20%.
Bitcoin bulls, however, don’t envisage any price fatigue for the top-ranked cryptocurrency by market capitalization. BTC has so far remained in close proximity to the $8,000 mark in May despite a few downward retracements.
Bitcoin News Today – Bitcoin Is a Great Diversifier
Managing Director of Morgan Creek Capital Management, Mark Yusko, in an interview with CNBC on Wednesday (May 22, 2019), described Bitcoin as a great investment portfolio diversifier.
On several occasions, many commentators have said that BTC ought to make up at least 1% of every investment portfolio.
Yusko also espoused sentiments similar to Pompliano’s saying Bitcoin is a better investment bet than stocks. Back in early 2019, Yusko highlighted the potential of Bitcoin, referring to it as the greatest wealth opportunity of our time.