Bitcoin’s strong recovery in 2023 outshines gold and S&P 500
Bitcoin (BTC) experienced an exceptional year in 2023, achieving a significant 144% increase and outshining other major assets and indices.
The latest surge added an impressive $530 billion to its market capitalization, showcasing a solid recovery from the 65% decline it experienced in 2022.
Bitcoin’s performance in 2023 has not only been a recovery story but also one of outperformance compared to other major asset classes and indices. With a triple-digit return, it significantly surpassed the gains of gold, which increased by 14%, and the S&P 500, which saw a 25% rise.
Happy new year. Here's the full bitcoin scoreboard: pic.twitter.com/Mwj1vemWNN— Dan McArdle (@robustus) January 1, 2024
Historically, Bitcoin has consistently outperformed gold and the S&P 500 since its inception in 2009, with 2022 being the only exception. This trend highlights Bitcoin’s resilience and potential as a leading digital asset.
Bitcoin kicks off new year on a high
Historically, halving events have been pivotal in Bitcoin’s four-year cycles, often leading to new all-time highs in BTC prices. Stepping into the new year, the outlook for Bitcoin and its investors is filled with anticipation and potential, marking a stark contrast to the previous year’s challenges.