Bitcoin, Up 135% YTD, Sends a Message to Nasdaq, Dow and S&P 500 Stocks: ‘2019 Is My Year’
Are you holding Bitcoin? If you are not, you should know that you may be making a mistake. Why? Bitcoin has surged in price 135% this year. This means that the price of the token has more than doubled in this short timeframe of only five months.
If you take the top performances of stocks like S&P 500, and the best ones from Nasdaq and Dow Jones, no other investment was as profitable as BTC this year. Even heavy hitters such as Beyond Meat (BYND), Cisco Systems (CSCO), Xerox (XRX) and others cannot even touch BTC.
Cisco Systems was the best Dow Jones stock this year. The company is currently being restructured by its CEO Chuck Robbins and the trade war that is being waged by Trump does not even start to affect it. While the company has been holding up pretty well, its 25% of growth in a year pale when you compare it to Bitcoin.
Beyond Meat, the best Nasdaq Initial Public Offering (IPO) ever since 2000 is also not really a match for BTC. The IPO of the company was very impressive and ranked historically very high. Some people may even disagree on whether this company has surpassed Bitcoin or not, though.
The opening price of $25 USD per share would make it technically up 230%, however, retail investors did not have the option to buy the stocks, so Yahoo lists the initial price as $60 USD, which eats up most of the gains.
Finally, we got Xerox from the S&P 500 stocks. Mind you, the company has been an amazing investment this year. Its shares offered gains of over 60% in only five months, which is seriously impressive if you do not compare it with Bitcoin.
Despite Beyond Meat technically being a better investment than Bitcoin, it is simply not fair to consider it because only accredited investors had access to it. Most of the importance of Bitcoin comes exactly because any person can hold it anywhere.
One Asset Toppled Bitcoin
In fact, there was an asset that basically humbled Bitcoin: Binance Coin (BNB). The token had a performance of going 450% up this year, which is simply insane. Among the altcoins, this was the one with the most powerful growth.
Bitcoin’s price is $47,890.31 BTC/USD exchange rate today. The real-time BTC market cap of $891.76 Billion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $26.82 Billion and live coin value change of BTC -5.83 in the last 24 hours.