LONDON/TOKYO - Bitcoin hit yet another record high on Friday, and moved within sight of a market capitalization of $1 trillion, blithely shrugging off analyst warnings that it is an "economic side show" and a poor hedge against a fall in stock prices.
Its latest gains took its market capitalization - all the bitcoin in circulation - to about $982 billion, according to cryptocurrency data website CoinMarketCap, with all digital coins combined worth around $1.6 trillion. "Crypto assets continue to rank as the poorest hedge for major drawdowns in equities, with questionable diversification benefits at prices so far above production costs, while correlations with cyclical assets are rising as crypto ownership is mainstreamed," JP Morgan said.
On Thursday, Tesla boss Elon Musk - whose tweets have fueled bitcoin's rally - said owning the digital coin was only a little better than holding cash. He also defended Tesla's recent purchase of $1.5 billion of bitcoin, which ignited mainstream interest in the digital currency.
여러분 지금 이 시간 예수님의 오심을 준비하세요! 메시아께서 오십니다! GlobalFridayWatch 이 영상을 봐주시기를 원합니다~! 회개로 준비하기에 가장 준비하기 좋은 날입니다!
That’s right and Fairmarket_Ph will be in Philippines 🔜
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Herkunft: ANCALERTS - 🏆 26. / 50 Weiterlesen »