Bitcoin is closing in on a market value of US$1tril (RM4.05tril), a surge that’s helping cryptocurrency returns far outstrip the performance of more traditional assets like stocks and gold. The largest token has added more than US$415bil (RM1.67tril) of value in 2021 to about $956 billion, data compiled by Bloomberg show. The Bloomberg Galaxy Crypto Index, which includes Bitcoin and four other coins, has more than doubled. The crypto index’s performance towers over stocks, gold, commodities and bonds in 2021. AMP’s Oliver said if Bitcoin "falls out of favor -- for example due to government regulation or investors just moving on to the next new thing -- then it could quickly plunge.” – Bloomberg

Source: The Star February 19, 2021 09:00 UTC