Find out what Bitcoin has achieved from the beginning of the year until now
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Answer Find out what Bitcoin has achieved from the beginning of the year until now
Bitcoin at the time of writing this article stands at $56,200.
This means that it is up almost 90% since the beginning of 2021, which is very interesting.
However, what is most impressive is the performance of Bitcoin compared to other well-known investment tools such as some of the most popular stock market indices, the largest companies in the world, and precious metals such as gold and silver.
Bitcoin outperforms the S&P500 and Nasdaq:
Bitcoin started 2021 at around $28.9 thousand, before climbing to record highs in April at $65,000, the highest level ever reached by bitcoin.
What followed was a turbulent few months, fueled by uncertainty, led by Elon Musk and China.Read:A man steals 182 Bitcoin units ($1.2 million) in retaliation for his ex-partners
After that, the price reached a low of $30,000 in July.
Bitcoin has resumed its upward trajectory and has nearly doubled in value to $56,200 as of the time of this writing.
Which means that the price of Bitcoin has increased by almost 90% compared to last year.
While speculation is growing, there are predictions that Bitcoin will close 2021 at $100,000
And when comparing Bitcoin to other assets from the traditional financial fields.
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.
This indicator has actually done well this year as it started the year at 3700, and drew a new high in early September at 4,520, but rebounded slightly to 4,391 as of last Friday’s close.
Meaning, the S&P 500 is up almost 18% in ten months.
Meanwhile, the Nasdaq Composite has posted more modest gains since the start of the year, estimated to rise nearly 15%.
Interestingly, the Dow Jones Industrial Average rose by a very similar rate in the same time frame.Read:Appointment of the former head of the Office of the Comptroller of the Currency (OCC) as CEO of US Binance
While when we take a look at the individual stocks of the most prominent companies in the world.
We find that Apple’s shares have increased by 10% since the beginning of the year to date, Microsoft’s return on investment by 35%, Amazon by only 3%, Facebook by 23%, and Tesla by 7.5%.
Alphabet, the parent company of Google, was among the top performers, with a noticeable increase of 61% year-to-date.
However, none of them are close to Bitcoin in terms of annual earnings.
Bitcoin vs Gold and Silver:
Since many consider Bitcoin to be digital gold, it is also useful to compare the cryptocurrency to the yellow metal and possibly silver as well.
After all, the market value of silver is still greater than the value of bitcoin, at least according to the website.8marketcap.com“.
The two metals should be especially popular these days, especially in the event of global economic uncertainty and rising inflation.Read:Brave Browser Adds Crypto Wallet Support
But gold has fallen since the beginning of the year.
Where gold fell more than 7%.
Silver’s situation is even worse as it is down 17% against the dollar year-to-date.
Thus, Bitcoin has outperformed the two most popular precious metals Bitcoin in terms of annual gains, at least as of October.
As such, it comes as no surprise that several notable names, such as Anthony Scaramucci, Steve Wozniak and Michael Saylor, have touted Bitcoin as a better option than gold.
It is also worth noting that Bitcoin became the best performer of the last century with an investment return of 8,900,000%.
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