Bitcoin Leaves Major Assets in the Dust: Surges 80% in the First Half of 2023, Soars to 12th Largest Global Asset
In the first half of 2023, eye-opening statistics reveal that bitcoin (BTC), the leading cryptocurrency, demonstrated remarkable performance by surpassing various significant assets such as the Nasdaq Index, Nikkei 225 Index, Dow Jones, S&P 500, Russell 2000, spot gold, the U.S. Dollar Index, and the Japanese yen, among numerous others. Moreover, amidst the top assets ranked by market capitalization, BTC soared an impressive 14 positions, climbing to become the 12th largest asset based on market valuation since the conclusion of 2022.
Bitcoin Defies Odds Among the World’s Most Valuable Assets and Currencies
In stark contrast to the challenging “Crypto Winter” experienced throughout 2022, bitcoin has shown remarkable resilience this year. In the first half of 2023, BTC surged by over 80% against the U.S. dollar, solidifying its position as one of the standout performers among a vast array of global assets.
This impressive achievement was highlighted by Colin Wu, a Chinese journalist known for blockchain reporting, who took to Twitter on July 1 to share the market performance of BTC alongside a multitude of other prominent assets.
“Data shows that in the first half of 2023, Bitcoin increased by 83.8%, ranking first, far exceeding other major assets in the world,” the crypto reporter tweeted. “The Nasdaq Index rose 31.7%, ranking second, and other major national stock markets rose. The price of natural gas fell by 37%, ranking the bottom, and the prices of other energy sources all fell.”
Colin Wu’s tweet provided an intriguing comparison of assets against BTC, encompassing a wide range of influential players such as the Nasdaq Index, Nikkei 225 Index, Germany DAX Index, Euro Stoxx 50, S&P 500, Shanghai Composite, and major currencies like the yuan, yen, pound, ruble, and 10-year U.S. Treasury notes.
As of July 5, 2023, at 10:40 a.m. (ET), the numbers speak for themselves: BTC has skyrocketed by a staggering 80.96% against the U.S. dollar since December 27, 2022. Back then, each unit of BTC was valued at $16,768, but today, it has firmly surpassed the $30K threshold.
Delving into archived data from December 27, 2022, we discover that BTC was once ranked as the 26th largest asset globally based on market capitalization. Over the course of the last half-year, BTC has soared to claim the 12th spot among the world’s most valuable assets.
Currently, it stands above TSMC, the prominent semiconductor manufacturer, and just below Berkshire Hathaway, the renowned investment firm helmed by the financial moguls Warren Buffet and Charlie Munger.
On Wednesday, Berkshire Hathaway’s market capitalization is above BTC’s by $152 billion. Interestingly, Berkshire Hathaway’s lackluster performance during this period pales in comparison to the gains achieved by BTC in the first half of the year, as Berkshire shares only witnessed a modest rise of 7.54%.
What are your thoughts on Bitcoin’s exceptional performance in the first half of 2023? Do you believe this trend will continue, or do you anticipate a shift in the market dynamics? Share your thoughts and opinions about this subject in the comments section below.
Source: Bitcoin.com
The post Bitcoin Leaves Major Assets in the Dust: Surges 80% in the First Half of 2023, Soars to 12th Largest Global Asset appeared first on Crypto Breaking News.
Text source: Crypto Breaking News
