Bitcoin has Outperformed Gold, Silver, and Stocks in 2023

Bitcoin is up by 45%, and the bulls don’t look set to catch a break soon. Commodities and Stocks have also surged, but Bitcoin is miles ahead.
Bitcoin has Outperformed Gold, Silver, and Stocks in 2023
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The year 2023 started on a bullish note for crypto traders. Since January 1st, the green candles have been winning. Bitcoin, Ether, and other cryptocurrencies bounced back from the dust after falling drastically in the previous year.

Bitcoin now trades around $24,000, a price level that has not been attained since August 2022. Interestingly, Bitcoin is not the only asset that has surged in value this year. Recent data from TradingView reveals that commodities and stocks are gaining momentum again.

Image Source: TradingView

Gold and Stocks Surge, But Guess What Leads the Profit Ranks?

Currently trading around $1,960, Gold has seen a 7% increase this year. Although Silver is yet to boast of an increase, the commodity has not intensely declined either. The S & P 500, a stock market index tracking the performance of 500 large-cap companies, is up by 6.5% in the past month.

For Nasdaq, its value appreciation in percentage has been in double digits. Nasdaq has surged by 12% already, and investors are rebuilding their bullish sentiments. While these increments are impressive, Bitcoin boasts the largest value appreciation since January. Bitcoin is up by a whopping 45%, and there seems to be no leave yet for the bulls.

A few days ago, Bitcoin’s fear and greed index rose above 55%. This value was seldom reached in the past year. With the bulls in the driving seat again, crypto holders are optimistic about a more profitable year than last.

Michael Saylor also Believes BTC is Winning

Undoubtedly, the numbers prove that Bitcoin is currently winning. Interestingly, Michael Saylor reiterated Bitcoin’s superiority over other assets via Twitter a few days back. In his tweet, Michael Saylor compared Bitcoin’s performance with Gold, Silver, Bonds, Nasdaq, and the S & P 500. To defend his affinity for BTC, the die-hard Bitcoiner compared the performance of all assets from August 2020 to January 2023.

Michael Saylor’s data revealed that BTC had seen an 86% increase since August 2020, when MicroStrategy adopted its Bitcoin buying strategy. In contrast, the S & P 500 has been up by 18%, and Nasdaq by only 2%. Interestingly, Gold, Bonds, and Silver have declined by 5%, 16%, and 17%, respectively, since August 2020.

While Bitcoin is winning, traders are also cautious of the intense volatility of the leading crypto asset. Notably, BTC is about 65% down from its all-time high of $69K. But the flagship cryptocurrency still boasts a market cap of $458 billion and a crypto market dominance of 42.3%.

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