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Quick Take
Bitcoin’s recent performance has defied traditional financial metrics, with the digital asset reaching new heights against the US 20+ year Treasury Bond ETF (TLT), the S&P Regional Banking ETF (KRE), and the Japanese Yen.
In a direct comparison with TLT, a globally recognized benchmark for relatively safe assets, Bitcoin had surged, underlining its growing acceptance as a viable investment.
Furthermore, its performance against the KRE, which had seen an 11% drop year-to-date, further emphasizes the robustness of Bitcoin, with the exchange rate shifting from approximately 900 KRE to one Bitcoin in 2021 to the current 1060.
Moreover, Bitcoin is nearing all-time highs against the Japanese Yen, the third most traded currency in the FX market and used as a reserve currency, according to the Corporate Finance Institute. With current rates hovering around 7.5 million Yen to one Bitcoin, matching levels seen in 2021, Bitcoin continues to assert its strength as it hovers around the $50,000 mark.
The post Bitcoin hits all-time high against traditional asset benchmarks appeared first on CryptoSlate.
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