Bitcoin Is No Longer the Worst Investment in the World
Mark Lennihan/AP
Now it’s merely the third worst.
Great news for the bitcoin faithful. The crypto-currency, which crashed after reaching highs of over $1,100 late last year, is no longer the absolute worst thing you could have bought this year. Now it’s merely the third worst.
Bitcoin is down 15.2 % against the US dollar since the end of 2013—through the end of May—after cutting its losses sharply in recent weeks. (At the end of the first quarter it was down nearly 40 %.)
The worst thing you could have done with your money so far in 2014 is invest it in iron ore. Prices for the steel ingredient have collapsed amid sluggish demand from China’s industrial sector . Likewise other industrial ingredients like lead, coal and copper have also tumbled.
Rounding out the list of the worst performers this year is the Argentine peso, which tumbled after the government stopped propping it up earlier this year . Japan’s Nikkei 225 has also had a disappointing 2014, as investor confidence in the new economic program known as Abenomics has ebbed away.
Reprinted with permission from Quartz . The original story can be found here .