Bitesize Insights – Perspectives on cryptocurrency
Cryptocurrencies had a challenging start to May. Terra Luna, a stable coin that had been among the largest market cap currencies, collapsed in May. The currency was pegged to the USD, but rapidly lost the peg to fall to less than $0.001 by 13 May. The collapse has spread through other cryptocurrencies. Bitcoin has shed around 60% of its value from the peak reached in November 2021. Ethereum has similarly seen its price fall around 60%.
In November 2021, we received a flurry of interest from investors asking whether we would approve cryptocurrencies, and whether they should be included in portfolios. At the time, we wrote a Perspectives note that we shared with our clients.
For this month’s insights, we have reproduced that Perspectives.
Here is a bitesize version which gives a brief overview of the key points of this month’s insights:
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