Bitcoin outperforms stocks & commodities, becomes the best-performing asset of 2021
According to recent data from NYDIG, Bitcoin is officially the best-performing asset of 2021 after rising by almost 50% this year.
The digital asset overcame several major corrections and clampdowns to deliver a 20% gain in a seven-day window. It also firmly beat several macro assets worldwide and sealed a 49% year-to-date return.
Despite the wild ride all year round, Bitcoin has not been held back by the downside as it canceled out a 60% retracement from its highs in May. This puts the largest cryptocurrency ahead in commodities of the year by 13% and 17% ahead of United States micro-cap companies.
In comparison to how other investment assets performed, the picture is very much in favor of Bitcoin. For example, European stocks are up just 10.3% year-to-date this week.
September has always been a month of struggle for Bitcoin while the reverse is the case for October, and hopes are high for a strong finish for Q4 after September returns, with stocks predicted to enjoy "above average" returns this month.
However, there are a few assets that toppled Bitcoin in terms of raw returns. Some altcoins have experienced freak gains in a short period of time. A perfect example is Solana (SOL) which began 2021 at around $1.60 but has hit an all-time high of over $215.