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Saylor highlights Bitcoin’s dominance over other assets
Alex Dovbnja
Bitcoin dwarfs other assets with its extraordinary performance, but it is unclear whether there is still potential for further growth
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Most recently MicroStrategy co-founder Michael Saylor brought to X (formerly Twitter) to highlight Bitcoin’s dominance over every other asset class.
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 every other asset class on an annualized basis, with average returns of 148%.
During this halving cycle, however, Bitcoin’s price performance has been rather disappointing so far. The leading cryptocurrency is lagging behind MicroStrategy (MSTR) stock and a number of mining stocks.
Following the launch of Bitcoin Exchange Traded Funds (ETFs) in early 2024, the price of the leading cryptocurrency reached the current all-time high of $73,737 in March. Notably, the flagship cryptocurrency managed to break out of the previous cycle’s peak before halving, which is why this bull run is so unusual.
Bitcoin is currently down 12.73% from its all-time high and it is unclear whether it will be able to recover its current peak in the near future due to the lack of bullish catalysts.
Earlier this week, the cryptocurrency fell below $64,000 for the first time in more than a month. The cryptocurrency fails to revive its bullish momentum due to the double whammy of significant outflows from cryptocurrency investment products and persistent inflation preventing further rate increases.
However, some experts such as Peter Brandt and Tom Lee believe that the largest cryptocurrency could peak $150,000 during this cycle.
About the author
Alex Dovbnja
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience covering everything related to the burgeoning industry, from price analysis to Blockchain disruption. Alex has authored more than 1,000 stories for U.Today, CryptoComes, and other fintech media. He is particularly interested in regulatory trends around the world that are shaping the future of digital assets; he can be contacted at alex.dovbnya@u.today.