Bitcoin BTC/USD has clocked more trading hours since launch than the U.S. stock market has in the last 53 years, supporters of the leading cryptocurrency claimed.
What happened: In an X post on Thursday, Bitcoin advocate Cory Bates posted an infographic with the caption, "Bitcoin is now older than the stock market."
The visual, originally developed by another Bitcoin supporter under the pseudonym Hodl Kamikaze, showed an estimated 100,737 hours of stock market trading since the Nixon Shock on Aug. 15, 1971.
In comparison, the number of Bitcoin trading hours since the first-ever cryptocurrency exchange BitcoinMarket began operations on March 17, 2010, was pegged at 123,774.
In comparison, the number of Bitcoin trading hours since the first-ever cryptocurrency exchange BitcoinMarket began operations on March 17, 2010, was pegged at 123,774.
The revelation was amplified by Matthew Sigel, Head of Digital Assets Research at leading investment manager, VanEck.
See Also: Bitcoin Miner TeraWulf Leads Early HPC Market Entry, Analyst Projects $610M Revenue By 2026
Why It Matters: Unlike the stock and bond markets, cryptocurrencies can be traded 24/7, allowing traders from around the world to participate at any time.
This non-stop framework ensures that investors do not experience a stoppage in money-making opportunities.
For instance, stocks were closed for Labor Day earlier this week. But cryptocurrencies continued to trade and rallied significantly on the holiday.
Price Action: At the time of writing, Bitcoin was exchanging hands at $55,769.56, down 2.58% in the last 24 hours, according to data from Benzinga Pro. The blue-chip index S&P 500 ended 0.30% lower at 5,503.41 during Thursday's regular trading session.
Read Next:
Image Via Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
