10 days ago
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.
Trudeau warned that Bitcoin is a highly speculative asset and that Canadians should exercise caution when investing in it.
Since Trudeau's warning, Bitcoin has outperformed both inflation and 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.
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.
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