I was never a fan of gold anyway
Crypto Is Beating Gold as 2020’s Top Asset So Farhttps://finance.yahoo.com/news/crypto-beating-gold-2020-top-210000278.html(Bloomberg) -- A cryptocurrency mania known as decentralized finance has helped to turn digital currencies into this year’s best-performing asset by far.
The Bloomberg Galaxy Crypto Index of digital coins is up about 66% in 2020, exceeding gold’s jump of more than 20% as well as returns from global stocks, bonds and commodities. A key reason for the move higher is a surge in Ethereum, which accounts for more than a third of the crypto gauge’s weight.
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Aside from DeFi, proponents of digital currencies such as Bitcoin argue they offer a store of value amid concern that huge stimulus injections to counter the pandemic will stoke inflation and weaken the dollar.
