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Bitcoin Up Almost 100%

As of writing these lines, Bitcoin is at $55,000 today. It’s up about 90% since 2021.

This is a remarkable feat in and of itself, but what’s more impressive is BTC’s performance when compared to other well-known investment instruments such as the most popular stock exchange indexes, some of the largest companies in the world, and precious metals such as gold and silver.

S&P500 and Nasdaq

It was around $28.9k when the primary cryptocurrency entered 2021, and then it soared to new heights in April at $65,000 which became its current all-time high. The following months were turbulent, triggered initially by FUD from Elon Musk and later by China.

BTC’s bullish run began after it fell below $30,000 in July. It has now nearly doubled its current value to $55,000, as of this writing. It’s now almost 90% higher year-to-date.

Although speculations are rife about where bitcoin will end the year, $100,000 is the most common opinion. It’s worth looking at how bitcoin compares with other assets in the traditional financial spheres.

Let’s begin with the S&P 500, the most widely used stock market index. It tracks the performance 500 of the largest companies listed on US stock exchanges. It has performed very well this year – it was entered at 3,700 and charted a new ATH at 4,520 in September. However, the index has retraced slightly to 4,391 at Friday’s closing. It has risen by 18% over the past ten months.

The Nasdaq Composite index, however, has seen modest gains of just under 15% since the beginning of the year. The Dow Jones Industrial Average also increased by an identical percentage over the same period.

Let’s take a look at the stocks of some of the most important companies in the world. Apple shares are up 10% YTD. Microsoft’s YTD ROI for Microsoft is 35%. Amazon’s ROI is just 3%. Facebook’s (23%), Tesla’s (23%).

Google (Alphabet symbol GOOG), has been one of the top performers with a 61% YTD growth. However, they are all far behind bitcoin in terms of annual gains.

Bitcoin Vs. gold Vs. silver

Many consider cryptocurrency digital gold. It’s worth comparing it with silver and yellow metal. According to 8marketcap.com, silver’s market capitalization remains higher than bitcoin’s.

These metals should be especially popular in these uncertain times due to the rising inflation and global economic uncertainty. But gold, which is historically the most valuable store of value instrument, has fallen since the beginning of the year. It is down more than 7% despite it being slightly higher in October.

Silver’s position is worse than ever, as it has fallen by 17% year-to-date against the dollar.

As such, bitcoin is not comparable to the most sought-after precious metals in terms of annual gains. At least, that was true as of October. It’s no surprise that prominent people such as Anthony Scaramucci and Steve Wozniak have referred to bitcoin as a better choice than gold.

It is also worth noting the fact that cryptocurrency was the most profitable asset with a ROI of 8,900,000%.