Bitcoin ranks as the best performing investment asset of Q1

Bitcoin, the market-leading cryptocurrency by capitalization, ranks as the top investment asset by performance so far in 2023. This and more news in this handy daily summary so that you are always informed with the most recent events that occur within the crypto world.

Bitcoin crowned best performing asset of Q1

📍‌Goldman Sachs analysts confirm that Bitcoin is the best performing asset of the first quarter. Since January, the market-leading cryptocurrency has risen in price by 71,3%, making it the best-performing investment asset today. 

Ethereum follows Bitcoin in this ranking, with a growth of 48,9% so far in 2023, as the second best-performing asset of the year. 

The performance of stocks on the S&P 500 and Nasdaq was 4,9% and 13,9%, respectively, in the first quarter.

On the other hand, the price of Bitcoin has closed higher for the third consecutive month, with a growth of 24% in the last 30 days. Several analysts argue that the cryptocurrency is breaking the bearish cycle of 2022 and that it could have a great year in 2023. Despite the current macroeconomic and regulatory challenges, the price of Bitcoin has remained stable.

Cryptocurrency companies begin to leave the US

📍‌Cryptocurrency companies are considering leaving the United States. The growing regulatory pressure that the United States is exerting on cryptocurrency companies in the country is causing many of them to consider their possible exit. 

Companies like Bittrex plan to move away from US soil and find a more crypto-friendly jurisdiction. In fact, the platform issued a official statement through its website, informing users that it will close its services for the United States on the 30th of this month, so Bittrex users and clients residing in the country have until the aforementioned date to withdraw their funds. 

Bittrex noted that it is not economically viable to continue operating in the United States, due to the regulatory environment and the current economic situation in the country. 

Other companies, such as Coinbase, are also considering expanding their cryptocurrency businesses outside the United States. 

Bermuda: “The future of finance is digital”

📍‌Bermuda Premier Edward David Burt remains confident in cryptocurrencies to transform the future of the financial system. During a interview Speaking with Bloomberg, the Prime Minister of Bermuda stressed that cryptocurrencies and their underlying technology, blockchain, can have a huge positive impact in transforming the future of finance. 

Despite the turbulent situation generated by FTX, the bankrupt exchange founded by Sam Bankman-Fried that was based in the Islands, Burt assured that cryptocurrency and digital asset companies continue to have open doors in the territory and that it has clear and intelligent regulations for the development of the crypto industry. 

DAOs grow 140% this 2023

📍‌DAO treasury has surpassed $25.000 billion for the first time. According to data from the DeepDAO platform, blockchain-based decentralized autonomous organizations have experienced a 140% growth so far this year. 

Currently, the community treasury maintained by these organizations is $ 25.500 million dollars, which represents a milestone for this type of Web3 organizational structures. 

According to the platform's data, a total of 12.213 DAOs have been formed so far, bringing together 6,8 million governance token holders and nearly 2 million active voters. 

The total value held in DAO treasuries represents 51,7% of the total value locked (TVL) in the decentralized finance (DeFi) ecosystem.

Continue reading: ZeroSync integrates zero-knowledge proofs (ZK Proofs) into Bitcoin

IMPORTANT: The content of this article is for informational purposes only and, in no case, what is written here should be taken as investment advice or recommendations. Bit2Me News reminds you that before making any investment you should educate yourself and know where you invest your money, as well as the pros and cons of the system. We separate ourselves from the actions and consequences that ignorance may entail. If you decide to invest in this or another asset class, you are solely responsible for the consequences that your decisions and actions may have.