- The crypto asset seems to have broken free from the S&P 500 and is creating quite a stir.
- Saylor showed the precise returns of Bitcoin and other conventional markets.
Investors are keeping a careful eye on Bitcoin’s performance as it separates from conventional markets, thanks to its recent price spike. As the United States approaches its forthcoming crypto-focused election, the crypto asset seems to have broken free from the S&P 500 and is creating quite a stir. The recent strong performance of Bitcoin has aroused debates in the market, as pointed out by Michael Saylor of MicroStrategy.
An increasing number of investors are taking notice of Bitcoin after it recently severed ties with the S&P 500. In the past, the cryptocurrency’s price followed the movement of key US indices; however, this pattern has changed recently.
Speculation has been circulating since Wednesday that the Trump administration is mulling about a foreign direct product regulation to limit the shipment of semiconductor equipment to China. The market volatility was triggered by this event and Donald Trump’s comments on Taiwan’s payment for U.S. security.
Leading the Charts
Amid all this, Bitcoin has shown to be quite resilient, benefiting from both ETF inflows and Trump’s remarks on the possibility of utilizing BTC as strategic reserves for the United States.
Founder of MicroStrategy Michael Saylor has praised Bitcoin’s surge since 2020 in a recent graphic he shared on the X platform. He included a chart that showed the precise returns of Bitcoin and other conventional markets from August 10, 2020, the day that MicroStrategy implemented its Bitcoin Strategy, to provide some background.
The research states that since then, Bitcoin has shown gains of 55%, whilst the S&P 500 and Nasdaq have yielded gains of 13% apiece. Contrarily, over the same time period, the price of gold increased by 5% and the price of silver by 2%.
Highlighted Crypto News Today:
Multiple Spot Ethereum ETFs Approved by NYSE Arca, Awaits SEC Nod
