Calling 2020 an abundant year for bitcoin (BTC) is an understatement, with the most popular cryptocurrency emerging to break all kinds of price records, while the value of other more traditional assets has plummeted.
But how well did the token perform against these assets? A more detailed analysis of the data reveals that only two of the S&P 500 companies overcame BTC in the year that was, with gold, silver and the rest also playing the second violin for bitcoin.
The data was compiled by Yahoo Finance and hosted by bitcoin-keen software company MicroStrategy. And that indicates that only electric car maker Tesla, which provided a 108% return in 12 months on BTC at the time of writing, and e-commerce company Etsy, which provided a 14% higher return in the same period, exceeded the BTC in 2020.
This means that BTC has surpassed even companies like Facebook, Microsoft, Netflix and the operator of Google Alphabet, despite the fact that much of the world has in fact suffered the blockade induced by the coronavirus pandemic for most of the year, with nothing to do but spend time connected.
BTC even outperformed e-commerce giant Amazon, which had a -54% return on BTC last year, despite a giant increase in online purchases.
Even Pfizer, the developer of one of the most praised coronavirus vaccines, was well behind (-73%) BTC.
And business titans like GM, Nike, Costco, McDonald’s, Starbucks, Walmart and others were nowhere in sight.
Unsurprisingly, BTC also easily outperformed all major fiat currencies, with the USD -73% behind and the euro at -70%, and the pound sterling at -71%.
The stock markets did not do better compared to BTC, such as Dow Jones, FTSE 100, Nasdaq and all major Asian exchanges by similar margins.
Elsewhere, traditional hedges suffered a similar fate: gold and silver were more than 60% behind bitcoin.
At pixel time (13:58 UTC), BTC was trading at $ 27,195 and was down 1% in one day, reducing its weekly earnings to 19%. The price rose 59% in one month and 270% in one year. However, at Cryptoworld, many smaller cryptoassets outperformed BTC this year, including ethereum (ETH) (453%), cardane (ADA) (387%) and chain link (LINK), among others. For comparison, ETH’s market capitalization, the highest of these three, is now almost $ 83 billion, compared to BTC’s $ 506 billion.