Bitcoin · Wall Street · S&P 500 · CoinDesk
Bitcoin is ready to outpaced stocks and bonds again after underperformance against Wall Street
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Bitcoin BTC $ 74,703.02 may be entering a new period of outperformance against traditional assets as inflation pressures persist and bond markets weaken, according to Risk Dimensions chief investment officer Mark Connors.
Key facts
- Connors, who spent years as the global head of portfolio management at Credit Suisse, said bitcoin recently broke out of what had been its longest stretch of underperformance against the S&P 500
- Bitcoin BTC $ 74,703.02 may be entering a new period of outperformance against traditional assets as inflation pressures persist and bond markets weaken, according to Risk Dimensions chief investment
- He argued that AI and blockchain are becoming increasingly linked as businesses look for decentralized systems to support machine-driven transactions and automation
- I think bitcoin’s underperformance versus markets is over,” Connors said in an interview
Summary
Bitcoin may be entering a new phase of outperformance versus traditional assets after ending its longest-ever stretch of underperformance against the S&P500 in early May, according to investor Mark Connors. Connors argues that persistent inflation, structurally high oil prices and a “higher-for-longer” interest-rate environment are pressuring bonds and could favor bitcoin over both equities and fixed income. He says investors are shifting from gold to bitcoin and contends that advances in technology, particularly AI and blockchain, are key to countering inflationary pressures. Connors, who spent years as the global head of portfolio management at Credit Suisse, said bitcoin recently broke out of what had been its longest stretch of underperformance against the S&P 500 in history, a 142-day period that ended in early May.