These Companies Have Collectively Bought $3.9 Billion Worth of Bitcoin
Despite the stock market's record-breaking volatility in 2020, investors have been treated well since the bear-market bottom on March 23, 2020. The tech-heavy Nasdaq Composite has nearly doubled, while the benchmark S&P 500 has gained 74%. These are huge moves that have handsomely rewarded patient equity investors.
However, neither of these moves holds a candle to what the world's largest cryptocurrency Bitcoin (CRYPTO: BTC) has accomplished since the bear-market bottom and over a trailing five-year basis. Bitcoin has more than sextupled the gains of the Nasdaq Composite since the March 23 low and is up a cool 11,510% over the trailing five-year basis (through March 1, 2021). That's over 100 times better than the total return (i.e., including dividends) of the S&P 500 since March 1, 2016.
But it's not just investors who've taken note of the most popular cryptocurrency on the planet. Three publicly traded companies have collectively scooped up $3.9 billion worth of Bitcoin since this past summer.
Source Fool.com
