Despite the collapse due to the recent crisis in global financial markets, a report reveals that bitcoin is the asset that has delivered the greatest economic return in the last 12 months.
The analysis, carried out by Delphi Digital and published in Forbes, compares the current market value of some of the major asset classes in the financial markets with their respective value 12 months ago.
In mid-April of 2019, BTC was priced at around $5,200, while today it is around $6,900, so it has grown by almost 33% over the last 12 months.
The same cannot be said of the other major asset classes, whose market value after the mid-March crisis in many cases has even plummeted to values well below those of 2019.
In other words, the mid-March crash has plagued virtually all asset classes, including gold, but as far as bitcoin is concerned, its price has not returned to the lows of last year and in the meantime, it has already recovered ground.
These two factors have not always been reflected in the price performance of the other major asset classes over the past 12 months.
However, there are individual assets, or small subgroups, that have outperformed BTC, such as palladium, whereas the entire precious metals asset class has underperformed.
Some asset classes have shown a positive return in the last 12 months, while others are still in negative territory.
Among all the main ones, the one that has performed worse is oil, whose price today is even 60% lower than a year ago.
The Delphi Digital report states:
“With that being said, we’d like to quickly point out that bitcoin’s outperforming just about every major asset class over the last 12 months (+40%) despite its most recent +50% drawdown. Again, time horizons matter”.
The report also reveals that there is a certain correlation between the overall volatility of global financial markets and the downturns in bitcoin prices, adding that if the equity sector were to fall again, bitcoin could follow suit.