Wall Street Giant Goldman Sachs Nominates Bitcoin as the Top-performing Asset of 2023

Bitcoin has started to take some control back of the market as the price of the flagship crypto has reclaimed $22K at present. The positive correction of Bitcoin has been noticed by some of the biggest movers in the financial markets.

The year-to-date report issued by analysts at Goldman Sachs has nominated Bitcoin as the best-performing asset of 2023.

It is worth noting that it is not the first that the Wall Street royalty has shown a positive stance toward the genesis cryptocurrency.

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As per the report, Bitcoin price performance has surpassed S&P 500 and NASDAQ 100 for the year. The report was shared in the form of a screenshot by Documenting Bitcoin last month.

In addition to getting a leg ahead of the stock market, Bitcoin has also gained some miles on the MSCI index. The MSCI market is made of tech, energy, financial products, US Treasury for 10 years, medicine, utilities, equipment, crude oil, FMCG, and others.

The report has pointed out that Bitcoin returns are recorded at above 27%. On the other hand, the risk-adjustment ratio for the crypto has been noted at 3.1.

The report has ranked Bitcoin above some of the biggest financial markets, such as gold and real estate. The first time Goldman Sachs included Bitcoin in its return report was in 2021.

The firm maintained an inverse stance of negativity and criticism of Bitcoin before finally adopting it for its high net-worth clients in the second quarter of 2022 under the pretext of increasing demand.

Bitcoin has Managed to Outperform All Major Financial Enterprises

Bitcoin lost more than 50% of its price movement since its ATH in 2021 during November. There have been speculations about Bitcoin prices dropping lower than $18K, but the currency has been on a positive tangent since the start of the current year.

During the last 24 hours, Bitcoin prices have decreased by 1.65% despite the 6.5% gains in the last 7 days and 33.8% gains on 30-day charts.

In terms of market capital appreciation, Bitcoin is standing at a total of $433.88 billion. In this aspect, Bitcoin has overcome other financial enterprises such as JPMorgan Chase. Wells Fargo, Finbold, and Bank of America.

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