Fundstrat, a noted market research firm has established that Bitcoin (BTC) has been the top-performing asset class of 2020 to date. Fundstrat took to Twitter to illustrate the growth story and how Bitcoin seems to have done well compared to other asset classes. The growth trends show that it has outperformed others by 19% as BTC had gained 39% at the beginning of 2020.
After Bitcoin as we can see from the illustration above, the 20-year US treasuries rank as the second-best as it has clocked in a growth of 21.1%. Gold also has been seen as a reliable investment with 12.5% growth. Government bonds and Nasdaq too are in the top 10 list while highly graded US cash and credit funds have only shown 0.5% growth. The other asset classes are currently underperforming.
The post has given a bird’s eye view on the performance of the top 13 asset classes and makes a fair comparison with last year’s growth. Bitcoin like last year has topped the chart for growth and has administered a 12-month gain of 92%. In 2019, Nasdaq was a close second with 35.2% which has not been so promising this year. Back in 2017 also Bitcoin was the best performing asset class with a massive growth of 1550%.
Bitcoin seemed to suffer a minor setback in the middle of March, but it has also improved since then majorly because of the Bitcoin halving event that is scheduled to take place on 11th May. The halving has expected a hope in people who are stocking up the asset only to drive the prices up north. Bitcoin which crashed earlier this year has already started its recovery by trading at $9,620 currently including itself in the category of fifth-strongest crypto by market cap.
It also can be said that Bitcoin SV (BSV) has seen the biggest gains for 2020. It has taken a huge leap of 115% that is from $98 to $210.5. Tezos (XTZ) has come a close second with a 107.5%% gain with an increase from $1.35 to $2.80. In the third and fourth positions are Ether (ETH) and Stellar (XLM) which have roughly increased by 61%.
Expectations are rife that halving will put an additional positive impact on the entire journey of Bitcoin.
Image Source – NBC