Data from CryptoManiaks indicated that in 2023, Bitcoin outperforms 97% of all S&P 500 companies. Notably, in March alone, BTC saw a 37.06% increase and has exhibited a remarkable 72% rise in value since the beginning of January.
In 2023, Bitcoin, often deemed a ‘risky asset’ by traditional financial institutions, outshone a majority of them in terms of performance. As the cryptocurrency markets navigated the challenges posed by the banking crisis, leading stocks witnessed a decline to weekly lows following the closures of Silicon Valley Bank, Signature Bank, and Credit Suisse, sending shockwaves throughout U.S. markets. Contrary to this, recent comparisons by the cryptocurrency education platform CryptoManiaks revealed that Bitcoin surpassed the returns of many publicly traded companies.
Furthermore, Bitcoin showcased superior year-to-date (YTD) returns compared to 488 (97.6%) of the S&P 500 companies. This outstanding performance positioned Bitcoin favorably against industry giants like Apple, Amazon, Microsoft, and FedEx.
Within the top 500 listed companies, only 12 managed to outperform Bitcoin in terms of yields this year. These companies include NVidia, Meta Platforms, Align Technology, Warner Bros, Advanced Micro Devices, Catalent, Tesla, West Pharmaceutical, MarketAxess, Salesforce, Monolith Power, and General Eclectics. The remaining 488 companies fell short in delivering higher returns compared to Bitcoin’s exceptional performance.
Bitcoin Outperforms: The Success of 2023
Bitcoin‘s impressive performance extends beyond outperforming 97% of the S&P 500 companies; it has also surpassed traditional commodities like gold. Bloomberg’s commodity strategist, Mike McGlone, highlighted this achievement on Twitter, noting that in 2023, Bitcoin outpaced gold by nearly 10 times in terms of returns. This underscores Bitcoin’s notable role as a high-performing asset in comparison to both traditional equities and commodities.
“Looking for a super cycle? Bitcoin Outperforms commodities with declining risk – Bitcoin beating gold, the top-performing old-guard commodity in 2023 to March 20, by almost 10x may be indicative of a super cycle happening in the crypto”.
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