Bitcoin (BTC) Leads Gold to Soar Nearly 10% Amid Russia’s Ongoing Invasion.
Following Russia’s invasion of Ukraine, global financial instruments, including gold and bitcoin, have reacted differently since the commencement of the war on February 24, 2022.
A closer look at the performance of the world’s financial assets by True Insights, an independent investment research platform, suggests that Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, has been the best performing asset class so far.
According to data shared today by Jeroen Blokland, the founder of True Insight, since the invasion started, Bitcoin is up 9.6% while gold, the popular yellow metal, is up 0.2%.
Similarly, oil has so far gained 4.5% in value and S & P 500 has soared 2.9% so far. Unfortunately, emerging market equities were at the receiving end of the negative impact of the ongoing invasion as the asset class is down 7.5%.
“Since February 24, the day #Russia invaded #Ukraine, these are the performances of selected asset classes, feel different, right? Reason: massive #volatility. Use a #framework,” Blokland tweeted adding an image of a chart showing the aforementioned assets’ performance.
Since February 24, the day #Russia invaded #Ukraine, these are the performances of selected asset classes.
– #oil +4.5%
– #gold +0.2%
– #bitcoin +9.6%
– #emergingmarket #equities -7.5%
– #sp500 equities +2.9%Feel different right?
Reason: massive #volatility
Use a #framework! pic.twitter.com/PK9oE6TCEW— jeroen blokland (@jsblokland) March 16, 2022
Fears Prompted by Russia’s Invasion
Russia’s ongoing invasion of Ukraine sparked mixed reactions across various social media platforms. Many people feared that the war could usher in World War III since Ukraine was almost close to joining NATO.
These fears caused the value of the world’s financial instruments to react negatively, however, most of these assets have come out stronger with Bitcoin leading the way.
The popular cryptocurrency fell below $35,000 and has since recovered most of its losses. At press time, Bitcoin is changing hands above $40,500