Apr 25, 2024 (MENAFN via COMTEX) --
(MENAFN - Investor Ideas) According to Stocklytics , Bitcoin stands tall, boasting an astonishing 124% annualized return, far surpassing traditional assets.
Stocklytics financial analyst Edith Reads commented on the data:
Bitcoin's utility as a hedge against inflation and economic uncertainty has become increasingly apparent in recent years. With central banks around the world engaging in unprecedented monetary stimulus measures, concerns about currency debasement and inflation have driven investors to seek refuge in alternative assets like Bitcoin.
By comparison, the S&P 500, a benchmark index comprising the 500 largest publicly traded companies in the United States, posted an annualized return of approximately 13% over the same period.
So far in 2024 (YTD), the Gold spot price index has returned an average of 1.36%.
Positive sentiments have been rising in anticipation of the halving event in 2024, which occurred on April 20th. Halving is the process where the reward for mining a Bitcoin is halved, which means that miners are awarded 50% lower rewards for verifying transactions. In turn, this reduces the rate of money supply growth, which may cause prices to rise if demand remains elevated.
The full story and statistics can be found here: Bitcoin's 124% 10-Year Annualized Return Tops S&P 500 and Gold, Best Asset of the Decade
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COMTEX_451381854/2604/2024-04-25T01:15:50
