Ethereum

Bitcoin

Read

A Matrixport report indicates publicly-listed crypto companies have outperformed Bitcoin’s year-to-date returns. 
<a href="https://crypto.news/tag/bitcoin/" target="_blank" rel="noreferrer noopener">Bitcoin</a>-focused firms such as crypto miners and crypto exchanges (e.g. <a href="https://crypto.news/tag/coinbase/">Coinbase</a>) demonstrated a notable performance that surpassed Bitcoin’s returns themselves. 
As per a Matrixport <a href="https://www.matrixport.com/institutions/research/matrix-on-target/801" target="_blank" rel="noreferrer noopener">report</a>, 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. 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="678" height="377" src="https://crypto.news/app/uploads/2023/12/dfhgioudfhg.png" alt="Bitcoin-related public companies outperformed BTC in 2023 - 24" class="wp-image-14228750">
 <figcaption class="wp-element-caption">
 Average performance of Bitcoin mining companies (or crypto related firms) vs. Bitcoin | Source: Matrixport
 </figcaption>
</figure> 
 You might also like: <a href="https://crypto.news/marathon-stock-jumps-11-amid-global-expansion/"> Marathon stock jumps 11% amid global expansion </a> 
The outperformance suggests a changing landscape in investor preferences and strategies, even though these entities have navigated significant fluctuations in performance lately. 
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 <a href="https://finance.yahoo.com/quote/COIN/" target="_blank" rel="noreferrer noopener">data</a>. As of press time, Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) is trading at $41,029, according to CoinGecko data. 
Nonetheless, in 2023, Bitcoin demonstrated a remarkable performance, surpassing the <a href="https://crypto.news/tag/nasdaq/" target="_blank" rel="noreferrer noopener">Nasdaq</a> 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. 
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 outperformed its closest competitor, Ethereum (ETH), which has seen an increase of +83% on a year-to-date basis. 
 Read more: <a href="https://crypto.news/planb-forecasts-bitcoin-bull-run-eyes-100k-target-in-2023-2024-based-on-stock-to-flow-modelling/"> PlanB forecasts Bitcoin bull run, eyes $100K target in 2023-2024 based on stock-to-flow modelling </a>

Bitcoin-related public companies outperformed BTC in 2023

crypto.news

Andere artikelen gepubliceerd op 18 dec 2023

Fetch.ai Prepares for Network Upgrade Governance Proposal, Analyst Predicts $3k BNB, Everlodge Se...

EVM Inscriptions: Unraveling the Chain Reactions and Gas Spikes

Ripple’s Monica Long Advocates Crypto for Swift Global Commerce

Expert suggest this Bitcoin rally could have saved FTX, Celsius and more

Bitcoin (BTC) Price To Hit New ATH in Next 12 Months – Predicts VanEck CEO

Investment Giant Goldman Sachs Released its 2023 Cryptocurrency Report! Here are the Remarkable D...

Meld je aan voor onze gratis nieuwsbrief voor dagelijkse crypto-updates!