Bitcoin outperforms 97% of all S&P 500 companies in 2023
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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 yearâs 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.
Bitcoinâs other successes
It is also worth mentioning that the flagship crypto has outperformed commodities in 2023, particularly gold , âthe top-performing old-guard commodity,â almost 10-fold, indicating it might be in a âsuper cycle,â according to Bloombergâs commodity specialist Mike McGlone.
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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.
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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 yearâs 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. Bitcoinâs other successes. It is also worth mentioning that the flagship crypto has outperformed commodities in 2023, particularly gold , âthe top-performing old-guard commodity,â almost 10-fold, indicating it might be in a âsuper cycle,â according to Bloombergâs 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 âFear & Greedâ 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.