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

Raw Text

Ana Nicenko

Cryptocurrency

As the cryptocurrency market continues to brave through the financial crisis that has already crushed several major banking institutions, Bitcoin ( BTC ) 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 Bitcoin has increased by 37.06% and over 72% since the year’s turn, while the flagship cryptocurrency registered better year-to-date (YTD) returns than 488 or 97.6% of S&P 500 companies, including FedEx (NYSE: FDX ), Apple (NASDAQ: AAPL ), and Amazon (NASDAQ: AMZN ), according to the data shared with Finbold by the crypto education platform CryptoManiaks on March 22.

By comparison, only 12 companies among the S&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.

Bitcoin’s other successes

It is also worth mentioning that the flagship crypto has outperformed commodities in 2023, particularly gold , “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.

Cryptocurrency

Over 70% of Bitcoin holders are currently in profit as bulls take charge

Cryptocurrency

Bitcoin outperforms commodities in 2023 suggesting BTC 'super cycle' is on

Cryptocurrency

Investors who began DCA into Bitcoin at $69k ATH are now up 10%

Banking

$100 billion leaves 5 largest U.S. banks' market cap in 2023 as Bitcoin adds $200 billion

Cryptocurrency

Bitcoin ‘Fear & Greed’ index hits 16-month high as BTC regains $28k

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 ( DeFi ) asset for one year or longer, as Finbold earlier reported .

On top of that, investors who started dollar-cost averaging (DCA) Bitcoin at its peak price of $69,000 in November 2021 are currently recording 10% returns on their regular investment , despite the price of Bitcoin being significantly lower than its all-time high (ATH).

Bitcoin price analysis

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 CoinMarketCap data indicates.

CoinMarketCap

As another one of its successes compared to traditional finance, the largest digital asset by market capitalization has added over $200 billion to its market cap in 2023, at the same time as the accumulated $100 billion was drained from five of the largest U.S. banks as the banking sector 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.

Single Line Text

Ana Nicenko. Cryptocurrency. As the cryptocurrency market continues to brave through the financial crisis that has already crushed several major banking institutions, Bitcoin ( BTC ) 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 Bitcoin has increased by 37.06% and over 72% since the year’s turn, while the flagship cryptocurrency registered better year-to-date (YTD) returns than 488 or 97.6% of S&P 500 companies, including FedEx (NYSE: FDX ), Apple (NASDAQ: AAPL ), and Amazon (NASDAQ: AMZN ), according to the data shared with Finbold by the crypto education platform CryptoManiaks on March 22. By comparison, only 12 companies among the S&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. Bitcoin’s other successes. It is also worth mentioning that the flagship crypto has outperformed commodities in 2023, particularly gold , “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. Cryptocurrency. Over 70% of Bitcoin holders are currently in profit as bulls take charge. Cryptocurrency. Bitcoin outperforms commodities in 2023 suggesting BTC 'super cycle' is on. Cryptocurrency. Investors who began DCA into Bitcoin at $69k ATH are now up 10% Banking. $100 billion leaves 5 largest U.S. banks' market cap in 2023 as Bitcoin adds $200 billion. Cryptocurrency. Bitcoin ‘Fear & Greed’ index hits 16-month high as BTC regains $28k. 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 ( DeFi ) asset for one year or longer, as Finbold earlier reported . On top of that, investors who started dollar-cost averaging (DCA) Bitcoin at its peak price of $69,000 in November 2021 are currently recording 10% returns on their regular investment , despite the price of Bitcoin being significantly lower than its all-time high (ATH). Bitcoin price analysis. 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 CoinMarketCap data indicates. CoinMarketCap. As another one of its successes compared to traditional finance, the largest digital asset by market capitalization has added over $200 billion to its market cap in 2023, at the same time as the accumulated $100 billion was drained from five of the largest U.S. banks as the banking sector 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.