Bitcoin has gained 50% year to date, making it the best performing asset of the year, surpassing stocks and gold

According to reports, from the beginning of the year to date, even if some banks focused on cryptocurrency fail, or even cryptocurrency exchanges disappear, Bitcoin has surged 50%, surpassing the performance of major global stock indexes and gold, becoming the best performing asset this year.

Interpretation of this information:

Bitcoin has significantly outperformed other popular investment assets including gold and major global stock markets so far this year. Although some banks that put much of their focus on cryptocurrency have failed and some cryptocurrency exchanges have disappeared, Bitcoin has surged an impressive 50% from the beginning of the year to date.

This kind of performance for Bitcoin is not entirely surprising considering the cryptocurrency has seen an incredible turnaround after experiencing a challenging time for much of 2018. In 2017, Bitcoin reached its all-time high of nearly $20,000 before tumbling down to about $3,000 in 2018. However, the price of Bitcoin has gone up by almost 200% from its 2018 low point, and the trend seems to be continuing.

In the last few years, Bitcoin has continued to enjoy significant investor demand driven by a variety of reasons such as hedging against political uncertainty, geopolitical tensions and a desire to explore new investment opportunities. Cryptocurrencies like Bitcoin have also become more accepted and widely used in everyday life for buying goods and services as well as undertaking business transactions.

The surge in demand for Bitcoin is also driven by increased adoption of blockchain technology, which underlies most cryptocurrencies. Blockchain has been transforming various industries including supply chain management, healthcare, and real estate, and the versatility of the technology has contributed to driving the demand for cryptocurrencies like Bitcoin.

In conclusion, Bitcoin has emerged as the best performing investment asset so far this year overtaking highly popular global stock indexes and gold. This year has been an interesting one for Bitcoin despite some banks focused on cryptocurrency failing and cryptocurrency exchanges disappearing. The surge in demand for Bitcoin is largely due to factors such as increased investor demand, political uncertainties worldwide, and the expanded adoption of blockchain technology.