Bitcoin is currently trading above $ 55,000, which means it’s up about 90% since early 2021.
While this is impressive, what is more notable is that Bitcoin has outperformed other well-known investment vehicles such as gold, silver and Wall Street indices such as the S&P 500, Nasdaq, Apple, Facebook, Tesla and other indices since the beginning of the year Year.
Bitcoin versus everyone else – YTD 2021 | Source: TradingView
S & P500 and Nasdaq lag behind
Bitcoin started at around $ 28,900 in 2021 before climbing to an all-time high of $ 65,000 in April, followed by several volatile months due to FUD from Elon Musk and China.
After bottoming below $ 30,000 in July, Bitcoin continued its upward momentum, nearly doubling its value, hitting $ 55,000 today.
While the community is passionately speculating about a year-long freeze on BTC, with $ 100,000 being prevalent, it is worth exploring how Bitcoin outperforms other traditional assets.
Let’s start with the most popular stock market index – the S&P 500, which tracks the performance of the 500 largest companies listed on US stock exchanges. It went really well this year, starting 2021 at 3,700 and reaching a new ATH of 4,520 at the beginning of September, but fell slightly to 4,391 by the end on Friday. . That means it has increased by about 18% in ten months.
At the same time, the Nasdaq Composite has recorded a somewhat more modest plus of almost 15% since the beginning of the year. Interestingly, the Dow Jones Industrial Average rose at a similar rate over the same period.
Let’s look at every stock of the world’s most famous companies. Apple shares are up 10%, Microsoft 35%, Amazon just 3%, Facebook 23% and Tesla 7.5% year over year.
Google is among the top performers with a remarkable 61% year-to-date increase. However, none of these companies are affiliated with Bitcoin.
Bitcoin, gold and silver
Considered by many to be digital gold, it is worth comparing it to physical gold and perhaps silver. After all, silver’s market capitalization is still larger than Bitcoin’s, at least noisy 8marketcap.com.
These two metals will become particularly popular in the last few days amid global economic uncertainty and rising inflation. However, gold – arguably the most widely used store of value in history – has been falling since the beginning of the year. It was down more than 7%, although it rose slightly in October.
Silver is in worse shape as it is down 17% year over year against the dollar.
As a result, the two most popular precious metals will be abandoned by Bitcoin by at least October, so it’s not surprising that many names stand out, such as Anthony Scaramucci, Steve Wozniak, and Michael Saylor calling Bitcoin a better option than gold.
It should also be noted that Bitcoin was the top performing asset of the last century with an ROI of 8,900,000%.
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According to Cryptopotato