Mohamed El-Erian, Chief Economic Advisor at Allianz, noted Bitcoin’s BTC/USD underperformance in August vis-à-vis other major asset classes.
What happened: In an X post on Sunday, the renowned economist compared the leading cryptocurrency with blue-chip stock indices, the Dow Jones Industrial Average, and the S&P 500, and major commodities like gold and oil.
He observed how most assets recovered strongly after Black Monday—the day when capital markets around the world went on a downward spiral—with the exception of Bitcoin, Chinese equities and oil.
Indeed, the Dow…
