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 <p class="is-style-lead">A Matrixport report indicates publicly-listed crypto <a rel="noopener noreferrer nofollow" title="companies" href="https://thebittimes.com/tag/companies.html">companies</a> have <a rel="noopener noreferrer nofollow" title="outperformed" href="https://thebittimes.com/tag/outperformed.html">outperformed</a> Bitcoin’s year-to-date returns.</p>
 <p>Bitcoin-focused firms such as crypto miners and crypto exchanges (e.g. Coinbase) demonstrated a notable performance that surpassed Bitcoin’s returns themselves.</p>
 <p>As per a Matrixport report, a group of listed Bitcoin mining companies, in conjunction with Coinbase, has yielded a commendable return of +266%, showcasing an advantage of +150% compared to Bitcoin’s performance.</p>
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   <img decoding="async" width="678" height="377" src="https://cdn.thebittimes.com/images/2023/12/18/56d0d7e07394b25bdb18da43e2fbf3c1.webp" alt="Bitcoin-related public companies outperformed BTC in 2023 - 1"> 
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   Average performance of Bitcoin mining <a rel="noopener noreferrer nofollow" title="companies" href="https://thebittimes.com/tag/companies.html">companies</a> (or crypto <a rel="noopener noreferrer nofollow" title="related" href="https://thebittimes.com/tag/related.html">related</a> firms) vs. Bitcoin | Source: Matrixport
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 <p>The outperformance suggests a changing landscape in investor preferences and strategies, even though these entities have navigated significant fluctuations in performance lately.</p>
 <p>In recent market developments, Coinbase Global Inc. (COIN) has witnessed a significant uptick in its stock performance, experiencing an impressive surge of 280% year-to-date, reaching unprecedented yearly highs at nearly $148, according to Yahoo Finance data. As of press time, Bitcoin (BTC) is trading at $41,029, according to CoinGecko data.</p>
 <p>Nonetheless, in 2023, Bitcoin demonstrated a remarkable performance, surpassing the Nasdaq stock exchange by a notable margin of +100%, as per Matrixport. The largest cryptocurrency market capitalization exhibited a significant surge of +150%, outshining the Nasdaq’s comparatively modest +53% increase. This stellar performance has prompted investors to contemplate the allocation of additional capital to Bitcoin for the year 2024, the report notes.</p>
 <p>Bitcoin has also surpassed the performance of many layer-1 tokens, the Singapore-based firm says, adding that on a risk-adjusted basis, the top cryptocurrency has <a rel="noopener noreferrer nofollow" title="outperformed" href="https://thebittimes.com/tag/outperformed.html">outperformed</a> its closest competitor, Ethereum (ETH), which has seen an increase of +83% on a year-to-date basis.</p>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> PlanB forecasts Bitcoin bull run, eyes $100K target in 2023-2024 based on stock-to-flow modelling
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-related-public-companies-outperformed-btc-in-2023-tbt74032.html">https://thebittimes.com/bitcoin-related-public-companies-outperformed-btc-in-2023-tbt74032.html</a></p>

Bitcoin-related public companies outperformed BTC in 2023

TheBitTimes

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