Bitcoin is 2023’s best-performing asset among 40 wealth classes
In a year marked by economic uncertainty, persistently high inflation, and concerns over rising interest rates, Bitcoin (BTC) has emerged as the star performer, outperforming other traditional asset classes. This performance by Bitcoin is notable despite the cryptocurrency mostly trading in a consolidation phase. In particular, Bitcoin has emerged as the top-performing asset class in 2023, with gains of 63.3%, leading among 40 selected asset classes , according to data published by NYDIG on October 6. Among these assets, the second-best performer is US large-cap growth, with gains of 28.2%. Meanwhile, Bitcoin has surpassed other notable assets, including the US stock market (12.2%), commodities (6%), cash (3.8%), and gold (1.1%). YTD 2023 asset class returns. Source: NYDIG One of the most striking aspects of Bitcoin’s performance this year has been its ability to maintain a relatively narrow trading range despite significant external pressures. The digital currency has he...