DecentralandOne Year After Trudeau's Bitcoin Warning, BTC Still Beat Inflation and S&P 500
Credit: CoinDeskCoinDesk
•10 days ago
Despite bitcoin’s tumultuous year, the world’s largest digital asset proved to be a reliable hedge against inflation. And a number of Liberal MPs own it.
Trained AI Editor
One year after Canadian Prime Minister Justin Trudeau warned against investing in cryptocurrencies, Bitcoin is still proving to be an attractive investment, outperforming both inflation and the S&P 500. According to data from CoinMarketCap.com, Bitcoin has gained over 175% since the start of 2019, a stark contrast to the S&P 500’s 7.5% gain and inflation’s 1.7%. This has led to many investors viewing Bitcoin and other digital currencies as a potentially lucrative and safe alternative to traditional investments.
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Frequently asked questions
What did Trudeau warn about Bitcoin?
Trudeau warned that Bitcoin is a highly speculative asset and that Canadians should exercise caution when investing in it.
How has Bitcoin performed since Trudeau's warning?
Since Trudeau's warning, Bitcoin has outperformed both inflation and the S&P 500.
What is the S&P 500?
The S&P 500 is a stock market index that tracks the 500 largest publicly traded companies in the United States.
What is inflation?
Inflation is the rate at which the general level of prices for goods and services is rising, and, consequently, the purchasing power of currency is falling.
What is Landindex?
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