MicroStrategy co-founder Michael Saylor recently led to (formerly Twitter) to highlight Bitcoin’s dominance over all other asset classes.
MicroStrategy co-founder Michael Saylor recently led to (formerly Twitter) to highlight Bitcoin’s dominance over all other asset classes.
The chart shows that Bitcoin’s cumulative returns have reached 21,372,237% since 2011.
The nascent cryptocurrency dwarfs the returns of gold, tech stocks and other assets.
Bitcoin has also outperformed all other asset classes on an annualized basis, with average returns of 148%.
However, during this halving cycle, Bitcoin price performance has been quite disappointing so far. The leading cryptocurrency trails MicroStrategy (MSTR) stock, as well as a host of mining stocks.
Yuri MolchanFollowing the launch of Bitcoin exchange-traded funds (ETFs) in early 2024, the price of the leading cryptocurrency reached its current all-time high of $73,737 in March. Notably, the flagship cryptocurrency managed to surpass the previous cycle’s peak before halving, which is why this bull run is so unusual.
Currently, Bitcoin is down 12.73% from its all-time high and it is unclear if it will be able to regain its current peak in the near future due to the lack of bullish catalysts.
Tomiwabold OlajideEarlier this week, the cryptocurrency fell below $64,000 for the first time in over a month. The cryptocurrency is failing to revive its bullish momentum due to the double whammy of significant outflows of cryptocurrency investment products and persistent inflation that is preventing further rate hikes.
Still, some experts like Peter Brandt and Tom Lee believe the largest cryptocurrency could peak as high as $150,000 during this cycle.
