Bitcoin Is Not a Stock

coindesk2021-03-18

Seems obvious, right? Well, there’s a common misconception among new crypto market participants that bitcoin is a company stock. While its price activity can correlate with traditional markets on ...

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精彩评论

Cinnamoon
2021-03-18
Cinnamoon
Good read
meowmeowme
2021-03-18
meowmeowme
That you need an article like this to explain says a lot about the state of the market...
- MZ39:
  haha yes agree!
Huradelia
2021-03-18
Huradelia
Hahaz. That’s true
- JoyceChew:
  agree
gkwok1902
2021-03-18
gkwok1902
It is a hedge for me
- 4onemoreday:
  True
albert77
2021-03-18
albert77
yes
xxbrian
2021-03-18
xxbrian
Like n comment thank u!!
- Fonkytonks:
  reply thx

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Well, there’s a common misconception among new crypto market participants that bitcoin is a company stock. While its price activity can correlate with traditional markets on ...</p>\n\n<a href=\"https://www.coindesk.com/bitcoin-is-not-a-stock\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SQ","symbol_name":"Block","start_time":0,"source_url":"https://www.coindesk.com/bitcoin-is-not-a-stock","article_id":"1159334095","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1159334095","pubTimestamp":1616045990,"sourceInfo":{"source_id":"lsy1572937250936","name":"CoinDesk"},"weMediaInfo":null,"summary":"Seems obvious, right? 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While its price activity can correlate with traditional markets on occasion, it is, in fact, an entirely separate asset class.\nBitcoin is a cryptocurrency– a type of digital asset secured by cryptography that can be used to make electronic payments over the internet or act as a store of value like gold or silver.\nThink of cryptocurrencies as the emails of the currency world. They do not exist in physical form, they can be sent in minutes and they do not require multiple intermediaries to handle the payment.\nUnlike fiat currencies like the U.S dollar or euro that store all card and wire transactions on a central ledger maintained by a single authority, bitcoin and other cryptocurrencies use a technology called “blockchain.” This is a globally distributed ledger that can be maintained and copied by anyone on the planet and ensures total immutability and transparency.\nKey differences between bitcoin and stocksStocks\n\nTraded on traditional stock exchanges such as Nasdaq, London Stock Exchange, Deutsche Börse, etc.\nCan only be traded Monday to Friday. Market opening and closing times vary between stock exchanges\nRegulated financial products\nPurchasers receive share certificates to show legal proof of ownership\nCompanies can produce new shares after publicly launching, though there is a finite limit\nBrokerages maintain their own record of stock trades that they execute on behalf of clients. In the United States, this information is not publicly available unless an investor purchases over 5% of a listed company\n\nBitcoin\n\nTraded on centralized and decentralized crypto exchanges\nCrypto markets do not close so bitcoin can be traded at any time on any day\nBitcoin is not a regulated investment vehicle; however, most international jurisdictions recognize it as property\nPurchasers can hold their own bitcoin or delegate safe storage to third-party custodians\nThere will only ever be 21 million bitcoins. No new coins can be created\nThe Bitcoin blockchain publicly records all transactions and can be viewed or downloaded by anyone at any time\n\nCompany stocks that are tied to bitcoin\nDespite the differences between these two investment options, there are a number of publicly traded companies whose stocks are tied to the performance of bitcoin. This is because the companies are either directly engaged in bitcoin-related activities such as mining,hold a substantial amount of bitcoin in reserves or their target market is crypto users.\nThese companies include:\n\nSilvergate Capital\nMicroStrategy\nSquare\nRiot Blockchain\nNvidia\nArgo Blockchain\nMGT Capital Investments\nBitFarms\nDiginex\nHut 8 Mining\nVoyager Digital\nCanaan Creative\n\nThis generally means that when bitcoin’s price is performing well these stocks also tend to perform well, and vice versa. Recently, JPMorgan launched a new financial product called the “Cryptocurrency Exposure Basket” – a debt instrument linked to leading crypto focused companies that allows investors to gain indirect exposure to bitcoin and the altcoin market.\nStocks that trade closest to BTC\nAccording to data from Morningstar, 2020 was a record year for the world’s largest cryptocurrency in terms of its correlated performance to traditional equities.\nCorrelation is the measure of the relationship between two or more items. In this case, it’s used to measure the relationship between the price movements of two markets. There are several methods to calculate correlation, though the Pearson Product-Moment Correlation Coefficient (PPMCC) is the preferred method for measuring similarities between different financial assets. The PPMCC  is measured between 1.0 and -1.0. The closer the value is to -1.0, the less correlated the two assets are; the closer the value is to 1.0, the more correlated are the two assets.\nFor anyone interested to know how PPMCC is calculated, here’s the equation: ρxy = Cov(x,y) / σxσy\nWhere ρxy = Pearson product-moment correlation coefficient\nCov(x,y) = covariance of variables x and y\nσx = standard deviation of x\nσy = standard deviation of y\nThe chart below illustrates a clear rise in correlation between bitcoin and a range of traditional financial markets, including the S&P 500, gold, oil and U.S. bonds.\nThe highest correlation between bitcoin and the stock market is theS&P 500– an index of the largest 500 companies in the United States – with a value of 0.22. This is most likely due to a rise in institutional investmentent ering the crypto market and large players adding bitcoin to diversify their portfolios. When either market rises or falls it presumably creates a knock-on effect that spreads to other markets.\nChart by Morningstar showing bitcoin correlation to stocks and commodities. Source: Morningstar/Nasdaq/VanEck\nThe highest correlation overall is between bitcoin and gold, two popular “safe haven” assets that have historically risen in tandem during times of economic uncertainty. Bitcoin has often been touted as “digital gold” due to its scarce, limited supply. However, its high volatility and wild price swings make it far more risky and unpredictable. That being said, bitcoin has generated substantially higher returns year on year compared to gold.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":327648373,"gmtCreate":1616082355292,"gmtModify":1634527307720,"author":{"id":"3575256910067021","authorId":"3575256910067021","name":"Cinnamoon","avatar":"https://static.tigerbbs.com/a2795c1e4a72d648f0a19fab08a62589","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3575256910067021","authorIdStr":"3575256910067021"},"htmlText":"Good read","listText":"Good read","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/327648373","repostId":1159334095,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":327920937,"gmtCreate":1616052289829,"gmtModify":1703496903902,"author":{"id":"3572057948118382","authorId":"3572057948118382","name":"meowmeowme","avatar":"https://static.tigerbbs.com/ff35c63639130db9306c87ac66c94640","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3572057948118382","authorIdStr":"3572057948118382"},"htmlText":"That you need an article like this to explain says a lot about the state of the market...","listText":"That you need an article like this to explain says a lot about the state of the market...","text":"That you need an article like this to explain says a lot about the state of the market...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/327920937","repostId":1159334095,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3824558,"gmtCreate":1616056137523,"gmtModify":1635752714466,"authorId":3572322201202012,"author":{"id":3572322201202012,"idStr":"3572322201202012","authorId":3572322201202012,"name":"MZ39","avatar":"https://static.tigerbbs.com/30eb7b5a7db02258a92e8e407af0f568","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":327920937,"type":1,"supId":0,"prevId":0,"content":"haha yes agree!","text":"haha yes agree!","html":"haha yes agree!"}],"langContent":"EN"},{"id":327984159,"gmtCreate":1616051106471,"gmtModify":1703496885276,"author":{"id":"3550593849162338","authorId":"3550593849162338","name":"Huradelia","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3550593849162338","authorIdStr":"3550593849162338"},"htmlText":"Hahaz. That’s true","listText":"Hahaz. That’s true","text":"Hahaz. That’s true","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/327984159","repostId":1159334095,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3824089,"gmtCreate":1616051499231,"gmtModify":1635752738362,"authorId":3571889352436684,"author":{"id":3571889352436684,"idStr":"3571889352436684","authorId":3571889352436684,"name":"JoyceChew","avatar":"https://static.tigerbbs.com/bcd2a122cab87882e73eff3dc886ecec","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":327984159,"type":1,"supId":0,"prevId":0,"content":"agree","text":"agree","html":"agree"}],"langContent":"EN"},{"id":327911726,"gmtCreate":1616048859565,"gmtModify":1703496864441,"author":{"id":"3573733574332120","authorId":"3573733574332120","name":"gkwok1902","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3573733574332120","authorIdStr":"3573733574332120"},"htmlText":"It is a hedge for me","listText":"It is a hedge for me","text":"It is a hedge for me","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/327911726","repostId":1159334095,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3824243,"gmtCreate":1616053413521,"gmtModify":1631894003607,"authorId":3573607919761122,"author":{"id":3573607919761122,"idStr":"3573607919761122","authorId":3573607919761122,"name":"4onemoreday","avatar":"https://static.tigerbbs.com/0d6bd2814e5f11f991de0ed780343b74","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":327911726,"type":1,"supId":0,"prevId":0,"content":"True","text":"True","html":"True"}],"langContent":"EN"},{"id":327936410,"gmtCreate":1616047680730,"gmtModify":1703496853515,"author":{"id":"3575421087208890","authorId":"3575421087208890","name":"albert77","avatar":"https://static.tigerbbs.com/23ad8bf74e09800b779350089d72b84f","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3575421087208890","authorIdStr":"3575421087208890"},"htmlText":"yes","listText":"yes","text":"yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/327936410","repostId":1159334095,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":327938616,"gmtCreate":1616047516435,"gmtModify":1703496851782,"author":{"id":"3574644652686832","authorId":"3574644652686832","name":"xxbrian","avatar":"https://static.tigerbbs.com/5d4b2fb466b0c8f60cad4aba9035028d","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3574644652686832","authorIdStr":"3574644652686832"},"htmlText":"Like n comment thank u!!","listText":"Like n comment thank u!!","text":"Like n comment thank u!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/327938616","repostId":1159334095,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3823817,"gmtCreate":1616047856154,"gmtModify":1635752753286,"authorId":3559873043762670,"author":{"id":3559873043762670,"idStr":"3559873043762670","authorId":3559873043762670,"name":"Fonkytonks","avatar":"https://static.tigerbbs.com/4dfa5c5b6a3eb44de87d5ed63482f16c","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":327938616,"type":1,"supId":0,"prevId":0,"content":"reply <u>thx</u>","text":"reply <u>thx</u>","html":"reply <u>thx</u>"}],"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":26,"commentSize":11,"repostSize":0,"favoriteSize":3,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1159334095"}