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In the scope of the world’s wealth, the value held in Bitcoin is miniscule. If we assume that this quadrillion roughly represents the total value of assets in the world, then Bitcoin represents 0.1% of all wealth in existence. Change your location Before the pandemic, crypto assets such as Bitcoin and Ether showed little correlation with major stock indices. They were thought to help diversify risk and act as a hedge against swings in other asset classes. But this changed after the extraordinary central bank crisis responses of early 2020. Crypto prices and US stocks both surged amid easy global financial conditions and greater investor risk appetite.