Bitcoin (BTC) has in fact functioned very well every bit a store of value before the coronavirus crunch, raw data suggests.

In a Twitter discussion on May 1, Travis Kling, head of crypto hedge fund Ikigai, produced fresh evidence that, despite volatility, Bitcoin has preserved its investors' wealth.

BTC protected hodlers from "catastrophic event"

Since February, BTC/USD has delivered stable returns of 0.half dozen%, Kling said, smoothing out any pain to "hodlers" sparked by 1 of the nearly unnerving fiscal implosions of recent history terminal month.

"The price of #Bitcoin increased 0.60% from the finish of Feb to the stop of April amidst one of the nearly catastrophic economic events in history," he summarized.

A store of value.

The narrative of Bitcoin as a store of value in its current state has undergone a metamorphosis since the start of 2022.

Later the March crash, the largest cryptocurrency has in fact seen periods during which it was less volatile than traditional markets, including stocks and oil.

Signs of a gradual decoupling from market price movements further reinforce a positive outlook for Bitcoin as a long-term wealth preservation tool.

Macro assets year-to-date returns

Macro assets year-to-date returns. Source: Skew

Pantera CEO: BTC will "come of historic period" in 2022

Responding to Kling, criticism of Bitcoin from Bloomberg editor Joe Weisenthal, who contended that the U.S. dollar was more stable, saw a swift putdown.

As both Kling and previously Cointelegraph noted, the dollar's huge inflation relative to Bitcoin logically no longer allows it to compete for the store of value championship.

Bitcoin'south inflation charge per unit volition drop to ane.eight% in around two weeks' time as its 3rd block advantage halving takes identify.

Year to date, meanwhile, information from monitoring resource Skew confirms that Bitcoin is the all-time macro asset play, even beating gold.

On that topic, Dan Morehead, CEO of Pantera Majuscule, summarized this week:

Bitcoin was born in a financial crunch.  It will come up of historic period in this ane.