Bitcoin

As the <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">cryptocurrency market</a> continues to brave through the <a href="https://finbold.com/guides/finance/" rel="noopener noreferrer nofollow">financial</a> crisis that has already crushed several major <a href="https://finbold.com/guides/banking/" rel="noopener noreferrer nofollow">banking</a> institutions, Bitcoin (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) has recorded better results than nearly 100% of the 500 leading publicly traded companies in the United States during the third month of 2023.Indeed, since March 10, the price of <a href="https://finbold.com/topic/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> has increased by 37.06% and over 72% since the year’s turn, while the flagship <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrency</a> registered better year-to-date (YTD) returns than 488 or 97.6% of S&amp;P 500 companies, including FedEx (NYSE: <a href="https://finbold.com/stock/fedex-stock-fdx/" rel="noopener noreferrer nofollow">FDX</a>), Apple (NASDAQ: <a href="https://finbold.com/stock/apple-aapl/" rel="noopener noreferrer nofollow">AAPL</a>), and Amazon (NASDAQ: <a href="https://finbold.com/stock/amazon-amzn/" rel="noopener noreferrer nofollow">AMZN</a>), according to the data shared with <a href="https://finbold.com/" rel="noopener noreferrer nofollow">Finbold</a> by the <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">crypto</a> education platform CryptoManiaks on March 22.By comparison, only 12 companies among the S&amp;P 500 have managed to cross the threshold of 35% in YTD returns, which means that Bitcoin has outperformed the 27.2% YTD returns of FedEx, the 19.3% YTD returns achieved by Apple, and the 17.8% recorded by Amazon, as the table demonstrates.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/9d69ed8166fc49aab51840a9eb36af4e.png" />Bitcoin vs. publicly traded companies. Source: CryptoManiaks<h2 id="header-0">Bitcoin’s other successes</h2>It is also worth mentioning that the flagship crypto has <a href="https://finbold.com/bitcoin-outperforms-commodities-in-2023-suggesting-btc-super-cycle-is-on/" rel="noopener noreferrer nofollow">outperformed commodities</a> in 2023, particularly <a href="https://finbold.com/topic/gold/" rel="noopener noreferrer nofollow">gold</a>, “the top-performing old-guard commodity,” almost 10-fold, indicating it might be in a ‘super cycle,’ according to Bloomberg’s commodity specialist Mike McGlone.Elsewhere, Bitcoin is writing down successes in other areas, as more than 70% of its holders are currently in profit, and most of them have held on to the maiden decentralized finance (<a href="https://finbold.com/guide/liquidity-mining-definition/" rel="noopener noreferrer nofollow">DeFi</a>) asset for one year or longer, as Finbold earlier <a href="https://finbold.com/over-70-of-bitcoin-holders-are-currently-in-profit-as-bulls-take-charge/" rel="noopener noreferrer nofollow">reported</a>.On top of that, investors who started <a href="https://finbold.com/guide/dollar-cost-averaging-definition/" rel="noopener noreferrer nofollow">dollar-cost averaging</a> (DCA) Bitcoin at its peak price of $69,000 in November 2021 are currently recording <a href="https://finbold.com/investors-who-began-dca-into-bitcoin-at-69k-ath-are-now-up-10/" rel="noopener noreferrer nofollow">10% returns</a> on their regular <a href="https://finbold.com/guides/investing/" rel="noopener noreferrer nofollow">investment</a>, despite the price of Bitcoin being significantly lower than its all-time high (ATH).<h2 id="header-1">Bitcoin price analysis</h2>As things stand, the price of Bitcoin currently stands at $28,587, which represents an increase of 2.20% in the last 24 hours, in addition to the accumulated gains of 16.38% across the previous seven days and 18.89% on its monthly chart, as the latest <a href="https://finbold.com/guide/best-crypto-data-websites/#CoinMarketCap" rel="noopener noreferrer nofollow">CoinMarketCap</a> data indicates.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/f66b3c22e4984258b7a0209186ac604a.png" />Bitcoin 7-day price chart. Source: <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">CoinMarketCap</a>As another one of its successes compared to traditional finance, the largest digital asset by market capitalization has added <a href="https://finbold.com/100-billion-leaves-5-largest-u-s-banks-market-cap-in-2023-as-bitcoin-adds-200-billion/" rel="noopener noreferrer nofollow">over $200 billion to its market cap</a> in 2023, at the same time as the accumulated $100 billion was drained from five of the largest U.S. banks as the <a href="https://finbold.com/category/banking-news/" rel="noopener noreferrer nofollow">banking sector</a> continued to suffer casualties.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurreny news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com</a>.

Bitcoin outperforms 97% of all S&P 500 companies in 2023

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Alte articole publicate pe 22 mar. 2023

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