Category Archives: bonds

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Bitcoin Remains Top Performing Asset of 2019

bitcoin

  • Bitcoin is up about 90% during 2019 so far, beating out any other asset class

Stocks are at all-time highs in the United States, with the Dow Jones Industrial Average (DJIA) over 28,000 points, and Bitcoin is down big since July, but Bitcoin is still the top-performing asset class of 2019 with a 90% gain this year so far. In comparison, the stock market is up about 20-30%, and all other asset classes like precious metals and bonds have seen even lower returns.

Even more impressively, since the launch of Bitcoin in 2009 the DJIA is up 329% and the S&P 500 is up 369%, and this is the longest and biggest stock bull run in history. However, Bitcoin has seen an astronomical price increase of 12 million per cent during the same period of time, and in reality, Bitcoin’s profit percentage approaches infinity since there was a time when Bitcoin was worth nothing and could be easily mined with little computing power, or even received via a faucet 5 Bitcoins at a time.

Although Bitcoin is highly volatile and has had some bad bear market years, long term, Bitcoin continues to beat out any other asset class, likely due to its relatively low liquidity and market cap in comparison to other asset classes.

 

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Bitcoin Top Performing Asset of 2019

Although Bitcoin has fallen significantly from its high earlier this year near USD 13,900, it is important to put things in perspective by comparing Bitcoin’s performance to other asset classes.

Even at Bitcoin’s current price near USD 8,300, Bitcoin is still up 114% on the year. Compare this to the S&P 500, one of the top stock indices in the United States, which is only up 21%. Also, 10-year federal treasury bonds are only accruing 1.6% per year. Gold has had a solid year, rising from around USD 1,300 to USD 1,500, but this is only a 15% gain.

Thus, despite Bitcoin losing a significant amount of value since its peak earlier this year, it is still by far the most profitable asset class of 2019, even though stocks and gold have had a healthy year.

There are signs that the global economy is slowing, and Bitcoin’s performance in 2019 will perhaps attract new investors who are seeking to make quicker profits, versus the slow profits or possibly losses on the stock market expected in the near future.

 

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World Bank Mandates First Ever Blockchain Bond

The World Bank has mandated the Commonwealth Bank of Australia (CBA) to authorize the world’s first blockchain bond. The foreign bond issued in Australian dollars has been dubbed bond-i, an acronym for Blockchain Offered New Debt Instrument, as well as a reference to Sydney’s Bondi Beach.

bond-i

A joint press release from the World Bank and the CBA describes bond-i as the first of its kind to be fully managed with blockchain technology. The bonds will be entirely created, allocated and transferred using distributed ledger technology to secure every transaction.

Noting the benefits of applying blockchain technology to bonds, the two organizations wrote in the press release that blockchain is capable of streamlining the processes of a number of debt capital market intermediaries and agents. Several benefits of this are listed, including simplifying raising capital and trading securities, improving the efficiency of operations and augmenting oversight of regulations.

Arunma Oteh, World Bank Treasurer, said: ”We believe that emerging technologies, equally offer transformative, yet prudent possibilities for us to continue to innovate, respond to investor needs and strengthen markets.”

The World Bank and CBA have built a private, Ethereum-based blockchain platform on which bonds will be issued and distributed. The CBA said that they were open to using alternative blockchain networks as the space continues to evolve.

Sophie Gilder, Head of Blockchain Innovation Labs at the CBA said that bond-i is a significant step in unlocking the revolutionary potential of blockchain in financial services and markets.

Investor interest in bond-i has already been strong, according to the World Bank, although it plans further consultations with investors prior to launching the transaction.

The World Bank will run its operations for the bond from Washington, DC, with the institution already responsible for issuing between USD 50-60 billion annually in bonds for sustainable development.

 

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