The enormous rally in bitcoin and other cryptoassets has been impossible to miss. Since last March’s coronavirus-induced low of around $5,000, the bitcoin price has risen 12x to around $60,000 just one year later. From its creation in 2009, it’s been the best-performing asset in the world. With a value of $1.1 trillion, bitcoin alone is roughly as large as the venture capital asset class, has one-third the value of all gold held by investors, and has 6% of the total US money supply. The computer network supporting it consumes as much energy as Argentina.
The information presented and opinions expressed are solely the views of the podcast host commentator and their guest speaker(s). AllianceBernstein L.P. or its affiliates makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor’s personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates.
Bitcoin and other cryptocurrencies are a very speculative investment and involves a high degree of risk. Investors must have the financial ability, sophistication/experience and willingness to bear the risks of an investment, and a potential total loss of their investment. Information provided by Bernstein is not intended to be, nor should it be construed or used as investment, tax or legal advice, a recommendation, or an offer to sell, or a solicitation of an offer to buy, an interest in cryptocurrency. Bernstein does not offer cryptocurrency products and investments in cryptocurrency is not suitable for all investors.
