BAKU, Azerbaijan, Jan. 18
By Sadraddin Aghjayev - Trend:
The highest returns to retail investors in 2020 were brought by bitcoin, gold, and shares of foreign companies, according to the rating of the FinExpertiza international audit and consulting network, Trend reports.
So, having purchased a cryptocurrency for $430 at the rate of the Central Bank of Azerbaijan in the first days of January 2020, by the end of December of the same year it was possible to get about $1,500, or a little more than 350 percent of the profit.
“Conservatives who prefer gold also made money here, whose profits were 43 percent. Investors in foreign stocks made a little less, having to invest about $1,500, they got 41 percent of the profit,” said the FinExpertiza report.
“Moreover, holders of cash savings in foreign currency could have enriched themselves with good income. For example, by purchasing euros at the beginning of 2020, by the end of the year, 32 percent of net profit could be got. And purchasing dollars for the same amount for the Azerbaijani audience would not bring any changes. According to the CBA exchange rate, additional profit on deposits in euros would be about 22 percent,” said the report.
In early 2020, bitcoin was worth about $7,000; on March 17, it fell to $5,000. Further, until mid-October, the bitcoin rate grew gradually with small recessions. As of January 12, 2021, the Bitcoin exchange rate, according to CoinDesk, was $35,921, which is about 80 percent more than in 2020.
