Mohamed El-Erian, Chief Economic Advisor at Allianz, noted Bitcoin’s (CRYPTO: BTC) 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 gained 3.01% over the …
