Defying the Odds: Why Bitcoin Remains a Top Investment Choice This Year, Boasting a Staggering 30%+ Profit Rate
- Bitcoin has emerged as a substantial source of financial investment income, bringing substantial profits to financial investors this year.
- According to the rate of return by investment method for this year (January 2 - September 11) announced by Daishin Securities, Bitcoin exceeded 30%.
- This significant increase in Bitcoin's price has outpaced other investment tools, including gold (26%), foreign stocks (17%), and bonds (4%).
Bitcoin Sees Significant Gains, Exceeding 30% Return on Investment This Year
Bitcoin has emerged as a substantial source of financial investment income, bringing substantial profits to financial investors this year. The cryptocurrency has recovered the $60,000 level since the 27th of last month.
According to the rate of return by investment method for this year (January 2 – September 11) announced by Daishin Securities, Bitcoin exceeded 30%. During this period, the Bitcoin price (based on CoinDesk) rose 30.46% from $44,184.37 to $57,643.25.
This significant increase in Bitcoin’s price has outpaced other investment tools, including gold (26%), foreign stocks (17%), and bonds (4%). In contrast, domestic stocks have been largely ignored by investors, with the return rate (-7%) of the representative listed index fund (ETF) ‘KODEX 200’ linked to the KOSPI 200 index ranking last among investment tools.
The price of Bitcoin recovered the $60,000 mark for the first time in 17 days since the 27th of last month. According to the US cryptocurrency exchange Coinbase, at 5:13 PM Eastern Time (2:13 PM Pacific Time) on the 13th, the price of one Bitcoin was trading at $61,007 (80.06 million won), up 3.14% from the previous day.
The price recovery is attributed to expectations of a cut in the U.S. Federal Reserve’s (Fed) base rate. Former Federal Reserve officials, including former New York Federal Reserve Bank President William Dudley, have been calling for a “big cut” (0.5% cut), further fueling the price surge.
MicroStrategy, which holds the largest amount of Bitcoin as a single company, recently purchased 18,300 Bitcoins for a total of $1.111 billion (an average of $64,080 per Bitcoin) in the past month. The market is seeing the possibility of a 0.5% interest rate cut, contributing to Bitcoin’s rise.
As the market continues to watch the developments in the U.S. Federal Reserve’s monetary policy, Bitcoin’s price is expected to remain volatile. However, the current trend suggests that Bitcoin may continue to be a lucrative investment option for those looking to diversify their portfolios.