With an increase in dollars of almost 160% since the beginning of the year, Bitcoin is ready to end 2023 as one of the best performing assets. However, only the shares of the semiconductor giant Nvidia They outperform the top crypto asset this year, at least so far.
Key moments of 2023
The announcement of the exchange-traded fund (ETF) Blackrock Bitcoin and a fake post on social media platform X, combined to fuel the crypto asset’s remarkable run.
The actions of Nvidia They are the best performing asset in 2023. The information comes from a report carried out by the consulting firm Kaiko Research.
Bitcoin, which started the year trading just below $17,000, recently surpassed the $44,000 mark and is now set to end 2023 as one of the best-performing assets.
Until November 30, the largest cryptocurrency by market capitalization, is up approximately 160% overall. Shares of semiconductor giant Nvidia alone have outperformed bitcoin (BTC) with a gain of more than 240% on December 24.
Bitcoin: the BlackRock effect
According to analysis by Kaiko Research, BTC apparently stagnated between March and October. Furthermore, their volumes during that period They did not hint at an imminent run that would lead him to be listed above US$44.
“Then, optimism about a BTC spot ETF started growing after Blackrock filed, and then an erroneous tweet from a crypto publication claiming the ETF had been approved seemed to open the floodgates,” Kaiko Research said.
According to the firm’s analysis, the leading crypto asset has one of the best Sharpe Ratios of any major asset this year. The consulting firm also noted that Nvidia, whose shares doubled between January and May, had the best Sharpe Ratio in 2023.
Meanwhile, shares of Michael Saylor’s Microstrategy, which are up more than 300% at the time of writing (8 a.m. EST on December 24), are listed as the third best-performing asset in 2023. COIN Stock of the main US cryptocurrency exchange, Coinbase, are the fifth best performing asset, while the second largest crypto asset, Ethereum, ranks seventh.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
