On Friday, investment management firm Van Eck released new research indicating that Bitcoin’s price movements are less volatile than between a quarter and a third of the stocks listed on the S&P 500.
In a blog post the German issuer of exchange-traded products said that while Bitcoin has long been considered a “nascent and volatile asset outside of the traditional stock and capital markets,” the reality shows that the world’s largest cryptocurrency trades with volatility comparable to that of some of the largest companies in the world.
On a year-to-date basis, 29% of S&P 500 stocks experienced more volatile price fluctuations than the digital currency, while 22% did the same on a 90-day basis, said Van Eck.
The research is notable, given that Van Eck’s flagship offerings are largely couched in an asset class long considered to be a competitor to Bitcoin: gold.
Of Van Eck’s nearly $50 billion in assets under management, the majority are related to gold