- Eric Balchunas dismisses Bitcoin-tulip bubble comparison.
- Bitcoin has endured 17 years with 50% annual returns.
- Bitcoin’s comparison to gold emphasizes value beyond a bubble.
Bloomberg’s Senior ETF Analyst Eric Balchunas dismisses comparison between Bitcoin and 17th-century ‘Tulip Mania,’ emphasizing Bitcoin’s resilience and significant long-term returns.
Balchunas’ analysis highlights Bitcoin’s maturity as a stable asset class, potentially influencing institutional interest and market perceptions, distinguishing it from historical speculative bubbles.
Bitcoin: A Resilient Asset, Not Tulip Mania
Bitcoin’s durability showcases its resilience through six to seven boom-bust cycles, maintaining a long-term annualized return of around 50%. This strengthens the narrative of Bitcoin as an investable and durable asset class.
Market reaction to Balchunas’ comments has underscored Bitcoin’s perceived resilience and drawn parallels to non-productive assets like gold. Notably, the crypto community has amplified these sentiments, viewing Bitcoin’s 17-year history as proof of its market staying power.
“Tulip mania only lasted about three years and was completely wiped out after the collapse, while Bitcoin has experienced 6–7 rounds of sharp declines, survived for 17 years, and its long-term annualized rate of return is still around 50%.” — Eric Balchunas, Senior ETF Analyst, Bloomberg.
Tulip Mania vs. Bitcoin: Historical and Market Resilience
Did you know? In contrast to Bitcoin’s 17-year resilience, Tulip Mania collapsed within just three years without recovery, highlighting Bitcoin’s long-term stability as a financial asset.
Bitcoin (BTC), currently valued at $89,836.11, boasts a market capitalization of 1.79 trillion dollars, maintaining a dominance of 58.96% in the cryptocurrency market. Despite a 90-day decline of 20.03%, it has shown resilience with a 0.12% increase in the last 24 hours, according to CoinMarketCap.
Insights from Coincu research suggest that Bitcoin’s proven resilience may bolster its consideration in regulated financial products. Historical data supports its place alongside enduring, non-productive store-of-value assets like gold, similar to observations of Bitcoin’s Sharpe ratio analysis.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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