Bitcoin gained more than "every asset class" over the course of 2024, according to a new report, undoing correlation with equities, gold, and the U.S. dollar in the fourth quarter thanks to a late-year price surge.
Research released by New York Digital Investment Group shows that in Q4 2024, Bitcoin broke away from major assets following the election of Donald Trump in November—but it could still move back in line with them.
Bitcoin has often moved in line with U.S. equities—particularly tech stocks—as it is considered by many to be a “risk-on” asset. It has also typically done well in a low-interest rate environment.
Bitcoin ETFs registered $16.5B of net inflows, but the lion’s share of flows is going to BlackRock and Fidelity while some ETFs registered outflows during the quarter. pic.twitter.com/Z1Kz1Z7GkW
“With Bitcoin increasingly owned by traditional market investors, it’s natural to expect correlations to change,” the NYDIG report read, referring to the new Bitcoin ETFs trading on stock exchanges.
“Still, the promise of a non-sovereign issued store of value is an appealing investment in the current geopolitical climate, one that should not be driven by the same macroeconomic levers of say the U.S. stock market,” it added.
A comprehensive market survey by HashKey Group suggests Bitcoin could surge beyond $300,000 in 2025, driven by unprecedented institutional capital flows and growing mainstream financial adoption.
The Hong Kong-based digital asset firm's annual prediction report gathered input from nearly 50,000 community members.
It comes as Wall Street deepens its commitment to crypto, with several major financial stalwarts opting to provide services tied to the industry.
The crypto market is "poised for extra...
Bitcoin surged to new highs after President-elect Trump’s November 5 victory. The incoming leader campaigned on a promise to slash regulation and help the digital asset industry, and NYDIG credits Trump's win as the "main driver" for Bitcoin's surge.
By December 17, the biggest digital coin had hit a new all-time of $108,135, CoinGecko data shows. It has since retreated and is now trading for $99,600. Earlier this week, it briefly dipped below the $90,000 mark before a resurgence back above $100,000.
NYDIG added in its research that Bitcoin outperformed all asset classes by a wide margin in 2024, rising by more than 47% in the final quarter, and by nearly 120% from January to the end of the year.
The biggest cryptocurrency has in the past moved both with the stock market and gold. Is it slowly becoming an asset class of its own?
Circle’s dynamite IPO this week wasn’t just impressive by crypto standards—it outperformed expectations to a degree unrivaled even by America’s most prominent tech companies.
The evening before its Thursday trading debut on the New York Stock Exchange, Circle priced its stock, CRCL, at $31 a share. That represented a mark-up from the lower share prices the firm floated earlier in the week: $26, and then $28. Such last-minute moves are generally indicative of increased investor interest in a comp...
Public Keys is a weekly roundup from Decrypt that tracks the key publicly traded crypto companies.
This week: Gemini makes its own IPO move after Circle's explosive debut (and continued rise Friday), while Strategy boosts its Bitcoin buying power.
Twinsies!
Crypto exchange Gemini confirmed that it has filed to go public, within 24 hours of USDC issuer Circle making its euphoric debut on the New York Stock Exchange.
Rumors started making the rounds in February and March that Gemini, which has bee...
USDC issuer Circle, which made its whirlwind of a New York Stock Exchange debut yesterday, has already topped the high it set on Thursday.
Around 1pm ET on Friday, CRCL reached a high of $123.51—just 49 cents shy of fully quadrupling its IPO price. The stock is already trading 44% higher than its $83.23 close at a current price just shy of $120. It's a strong follow after the company tripled its $31 IPO price on its opening day.
As of this writing, the company has reached an intraday market cap...
