Bitcoin recorded better returns than the top-performing commodities and smashed major equities over the past 12 months, even as it became less volatile, a remarkable turnaround for a cryptocurrency long derided as a market that was more akin to betting than other asset classes.
The world’s most popular digital currency surged 73.2 per cent over the last financial year, beating platinum’s 51 per cent rally and doubling the rise of gold. Bitcoin also smashed the 9.5 per cent gain by the All Ordinaries and the 14.9 per cent advance by the US tech-heavy Nasdaq index.
