Here is the daily chart [1]. Can you point me at a 20% drop?
So, about 14%.
It is also disingenuous to compare its volatility to stocks when it is supposed to be a currency.
I want a heck of a lot less volatility in what I use to pay my bills and buy things than I'm willing to accept in my investment portfolio. Unless bitcoin and other coins demonstrate such stability, they aren't going to become a major form of payment.
Which is good because BTC is used nowhere as a form of payment.
I suppose if it remains consistently deflationary over medium-long term periods, that could still be useful, but doesn't really fulfill the role most crypto advocates envision.
Put it another way, where'd you get that $400M from? Did you earn it, or get it from venture capitalists? If the asset is such a sure bet, why did the VC give you the money to sit on instead of investing it directly themselves?
And why is it that companies that pay dividends tend to do better in the stock market and be more stable? Essentially a dividend is admitting you have more money than you know what to do with, so you give it back to the shareholders rather than getting distracted from your core competency.
I can't buy my groceries with BTC either, but that's because no store will trust a payment method where within an hour the value of what I've paid them declines 10%.
That's the magic of fiat currency.