фото показано с : zycrypto.com

Up over 40% year to date, bitcoin is arguably 2023’s best-performing asset. And according to new data, the bellwether cryptocurrency has been profitable for its holders nearly 89% of the time since the beginning of its trading.

Bitcoin has, as some pundits expected, thus far been a major beneficiary of the turmoil in the traditional finance world. The ultra-scarce digital asset has displayed an impressive performance in recent weeks while major bank stocks have continued to slump due to the failure of Silicon Valley Bank and Signature Bank and the emergency deal of UBS and Credit Suisse.

Specifically, bitcoin has been profitable for 88.5%, or 4,065 of its total trading history, which amounts to 4,593 days. This means only 531 or 11.56% of days have been unprofitable for long-term holders, according to data pulled from the cryptocurrency trading platform Blockchain.com. The unprofitable days are between December 28, 2020, and June 10, 2022, a time when BTC was valued in the $26,200 and $28,300 range.

BTC has long been touted as a sound investment, with many citing its hard-capped supply and global accessibility as key aspects contributing to its value. Now, enthusiasts believe bitcoin’s status as a safe haven has been bolstered as the top cryptocurrency gains ground and hits its highest level since June in the fallout of the latest banking crisis. This is a remarkable feat for what skeptics consider the most volatile asset.

Coinbase’s former CTO Balaji Srinivasan recently wagered that the price of the number one cryptocurrency would benefit from a rapid debasing of the United States dollar within the next three months, rocketing to the $1 million milestone by June 17.

For perspective, the market capitalization of BTC — would increase to roughly $19.8 trillion from about $543 billion today, according to CoinGecko. While most crypto commentators believe Balaji’s bet is overly optimistic, BTC would firmly return to full 100% profitability and back to price discovery if it indeed soared to $1 million.

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