One observer said poor order book depth is primarily responsible for the rally, while others pointed to the cryptocurrency's sound money appeal and Fed pivot speculation as bigger catalysts.
CoinDesk research shows that per unit of risk, bitcoin and ether performed significantly better than bonds and had similar results to equities in 2022.
Frank Downing, director of research at Ark Invest and Steven McClurg, co-founder of asset management firm Valkyrie, joined “First Mover” to discuss the state of crypto, the economy and their respective crypto-focused separate managed accounts.