Buying Bitcoin today is front running the forced diversification of a completely AI saturated equity market.
With not one, not two, but three massive inclusion of 5 Trillion dollars of equity value into the index, diversification requires venturing out on the risk curve.
$BTC (+7%, white) has outperformed Gold (-2%, gold) and the Nasdaq100 (-0.5%, green) since the US-Iran war started on Feb 28th. Realative to similar type large risky assets, $BTC did the best when viewed against oil & gas energy price spikes.
Boomers to the rescue again as bitcoin ETFs record $1.5b of inflows in the past 5 days after another big day yesterday. Biggest haul in a while, just about all of the original ten spot ETFs seeing action too = breadth and depth. This after a 50%(!) drawdown and most underwater. Even I'm impressed.
If you'd invested $100 in bitcoin every time someone declared it dead since inception (462 cited instances so far), you'd have $73 mill today
https://t.co/DXQWTltAVW
Just saw someone say this and had to verify myself — Gold has added about $1.75 trillion in market cap just today alone. The market cap of Bitcoin right now is $1.78 trillion.
“Gold is going up faster than bitcoin, I guess bitcoin is just another risk asset and not ‘digital gold.’” Wrong - the correlation between BTC and gold over the past decade is 0.09 (none). Why would you expect it to move at the same time?
Can't remember the last time Bitcoin was up like this in a risk off environment. Though for the last three months, it hasn't really been behaving as a tech stock.