Blockchain currencies didn’t just survive the collapse of FTX, they’ve been the investment of the year. Turns out, decentralised finance doesn’t need exchanges.
It’s Merry Cryptomas, everybody! Bitcoin is up 167 per cent year-to-date. Ethereum is up 91 per cent.
If a massive crypto rally was one of your predictions for 2023 a year ago, I take my hat off to you. Compare those returns with other asset classes. The NASDAQ is up 36 per cent. The S&P 500 is up 19 per cent. Gold is up 10.7 per cent. If you were long oil or a broad basket of commodities, you are down 10 per cent to 12 per cent.
