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So far in 2023, Bitcoin has been pushing the boundaries in terms of its performance as an asset.
According to a report by banking giant Goldman Sachs, the digital currency has been ranked as the best-performing asset in the world this year.
The price surged beyond $16,500 to $17,000 in early January and is now trading above $22,900.
Despite a 60% crash last year due to fraud charges against FTX co-founder Sam Bankman-Fried, Bitcoin has still managed to rise 162,000% since 2012 and earned investors a 10-year return of over $1.6 million on a $1000 investment.
While there are still some mini flash crashes here and there, and although it is still far away from its peak of almost $3 trillion back in 2021, people’s confidence that Bitcoin will continue to perform well remains high.
If market conditions stay favorable then it is certainly possible that Bitcoin could make up for at least some of its losses as we progress through 2023.
This article was updated 1 week ago
