Bitcoin Outperforms Major Assets: Climbs 80% in 2023’s First Half, Ascends to 12th Biggest Global Asset

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Remarkable growth was seen in the leading digital currency, bitcoin (BTC), throughout the first half of 2023, as it outpaced numerous prominent assets like the Nasdaq Index, Nikkei 225 Index, Dow Jones, S&P 500, Russell 2000, spot gold, U.S. Dollar Index, and Japanese yen, among others. Furthermore, BTC leaped an astounding 14 spots up the ladder of assets ranked by market capitalization, positioning itself as the 12th largest asset in terms of market valuation, a significant climb since the end of 2022.

Bitcoin Upsets Expectations Among the Most Valuable Global Assets and Currencies

Following the tough “Crypto Winter” in 2022, bitcoin has showcased exceptional resilience this year. BTC’s value spiked over 80% against the U.S. dollar in the first half of 2023, asserting itself as a standout among a broad spectrum of global assets.

Blockchain reporter Colin Wu, a prominent Chinese journalist, underscored this extraordinary feat on Twitter on July 1, juxtaposing BTC’s market performance with that of other significant assets.

“First-half 2023 data shows Bitcoin’s value surged 83.8%, taking the lead, vastly outpacing other major global assets,” Wu tweeted. “The Nasdaq Index followed, up by 31.7%, with other national stock markets also seeing growth. Natural gas prices, however, fell 37%, coming in last, while other energy sources also experienced declines.”

A side-by-side comparison of BTC and various influential assets like the Nasdaq Index, Nikkei 225 Index, Germany DAX Index, Euro Stoxx 50, S&P 500, Shanghai Composite, and key currencies such as yuan, yen, pound, ruble, and 10-year U.S. Treasury notes were presented in Wu’s tweet.

According to the market data on July 5, 2023, at 10:40 a.m. (ET), BTC’s value soared by an astonishing 80.96% against the U.S. dollar since December 27, 2022. On that date, BTC was worth $16,768 per unit, but it has now firmly crossed the $30K mark.

Exploring the historical data from December 27, 2022, BTC was then the 26th largest asset globally in terms of market capitalization. Over the past six months, it has climbed the ranks to land at the 12th position among the world’s most valuable assets.

As of now, BTC sits above TSMC, the high-profile semiconductor manufacturer, and just under Berkshire Hathaway, the prestigious investment firm steered by Warren Buffet and Charlie Munger.

As of Wednesday, BTC’s market capitalization trails Berkshire Hathaway’s by $152 billion. Interestingly, the lackluster performance of Berkshire Hathaway during this time is overshadowed by BTC’s first-half gains, as the investment firm’s shares only rose a mere 7.54%.

What’s your take on Bitcoin’s extraordinary performance in 2023’s first half? Do you predict this trend will persist, or do you foresee a market shift? Share your perspectives on this topic in the comments section below.

Frequently Asked Questions (FAQs) about Bitcoin’s Performance 2023

More about Bitcoin’s Performance 2023

• Bitcoin’s Historical Market Performance
• Overview of Major Global Assets
• The Growth of Cryptocurrencies in 2023
• Global Market Capitalization Rankings
• Berkshire Hathaway’s Performance in 2023
• TSMC’s Market Performance