At 60,770 dollars (50,840 euros), bitcoin has more than doubled in value since the start of the year. He set a new record at $ 61,556 this weekend. The rise in global inflation is seen by the markets as good news for this asset, which protects against rising prices and the fall of traditional currencies. Its popularity is increasing in countries plagued by inflation where individuals seek to protect their financial wealth.
230% per year
Its price clearly exceeds that of a kilo of gold ($ 55,561). After a correction and renewed volatility in February, the market resumes its forward march. The options markets estimate at 20% the probability that its price exceeds 100,000 dollars before the end of the year according to the analysis company Skew. Since 2011, bitcoin has gained an average of 230% each year, 10 times more than the market for American technology stocks, the Nasdaq (+ 20% per year).
The institutionalization of the market continues with the arrival of new players (banks, management companies, companies). Goldman Sachs bank is set to launch into crypto trading in March. According to Coindesk, the foundations responsible for managing the money of major American universities (Harvard, Yale, etc.) have also begun to invest in cryptos and bitcoin. These institutions do not hesitate to take risks and are heavily invested in all alternative asset classes (hedge funds, private equity, etc.). Diversification into cryptos is a natural development for these managers. Hedge funds that operate in bitcoin and cryptos gained nearly 77% in the first two months of the year according to Hedge Fund Research. Performance that attracts subscriptions.