Bitcoin ‘Still the Best-Performing Asset’ After Weak Q3: NYDIG
Despite a seasonally weak third quarter, Bitcoin remains the top-performing asset of 2024 according to Greg Cipolaro from New York Digital Investment Group (NYDIG), as reported by Cointelegraph. The cryptocurrency saw a modest gain of 2.5% over Q3 but has achieved an impressive year-to-date increase of 49.2%. This performance comes amid significant market challenges including large BTC sell-offs and creditor distributions totaling nearly $13.5 billion.
Cipolaro highlights that while other assets like precious metals have gained ground against Bitcoin, it still managed to defy expectations with a notable rise in September—a typically bearish month for crypto markets. Factors such as increased corporate ownership and demand from US spot ETFs contributed positively to its performance this quarter.
Billionaires Are Buying Bitcoin: Should You Do the Same?
The Motley Fool reports on an intriguing trend where numerous billionaires are now investing in Bitcoin, marking a shift in their previous stance towards cryptocurrencies. These investors include hedge fund managers and tech entrepreneurs who see potential both in terms of upside gains and downside risk protection offered by Bitcoin's unique position as a standalone asset class.
This newfound interest is partly driven by new investment vehicles like spot Bitcoin ETFs which simplify adding BTC exposure to portfolios without directly entering volatile crypto markets. Additionally, some view Bitcoin as "digital gold," offering safe haven qualities during economic or geopolitical uncertainties—an argument gaining traction among high-net-worth individuals looking for diversification options beyond traditional assets.
Mom Borrows $7,000 From Her Son to Buy Bitcoin; Dave Ramsey Weighs In
A recent article on Benzinga discusses financial advisor Dave Ramsey’s advice regarding family finances intertwined with risky investments like cryptocurrency purchases using borrowed money from relatives. In this case, a mother borrowed $7,000 from her son to buy Bitcoin. Two years ago, she hoped profits would cover college tuition costs but instead found herself unable to repay him due to losses incurred.
Ramsey strongly criticized her decision, calling it irresponsible gambling with someone else’s funds, especially involving children. He urged immediate repayment and emphasized the importance of education over speculative ventures. Despite current bullish sentiment surrounding digital currencies, overall future prospects remain uncertain, and the unpredictable nature of these investments continues to pose risks to unsuspecting investors.
Sources:
- Crypto Fraud Ring Dismantled by Vietnamese Authorities
- Bitcoin ‘still the best-performing asset’ after weak Q3: NYDIG
- Alex Jones got a big Bitcoin donation this week. Will his victims get that money?
- Billionaires Are Buying Bitcoin. Should You Do the Same?
- Mom Borrows $7,000 From Her Son To Buy Bitcoin, Dave Ramsey Says Demand The Money Back: 'This is Wrong … You're Not Going to Be a Millionaire'
- Grammy-Nominated Rapper Logic Invested $6M In Bitcoin Nearly 4 Years Ago: This Is How Much His Stash Would Be Worth Today
