{"id":17003,"date":"2023-01-28T02:33:29","date_gmt":"2023-01-28T02:33:29","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/goldman-sachs-ranks-bitcoin-best-performing-asset-so-far-this-year-markets-and-prices-bitcoin-news\/"},"modified":"2023-01-28T02:33:29","modified_gmt":"2023-01-28T02:33:29","slug":"goldman-sachs-ranks-bitcoin-best-performing-asset-so-far-this-year-markets-and-prices-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/goldman-sachs-ranks-bitcoin-best-performing-asset-so-far-this-year-markets-and-prices-bitcoin-news\/","title":{"rendered":"Goldman Sachs Ranks Bitcoin Best Performing Asset so Far This Year \u2013 Markets and Prices Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Goldman Sachs has ranked bitcoin the best-performing asset so far this year. The cryptocurrency also tops the global investment bank\u2019s list as the asset with the highest risk-adjusted return \u2014 above gold, real estate, the S&P 500, and the Nasdaq 100.<\/strong><\/p>\n

Bitcoin Outshines Other Investments on Goldman\u2019s Chart<\/h2>\n

Global investment bank Goldman Sachs has reportedly ranked bitcoin the best-performing asset year-to-date (YTD). The Twitter account Documenting Bitcoin tweeted<\/a> earlier this week:<\/p>\n

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Bitcoin is the best performing asset in the world this year, according to latest data by Goldman Sachs.<\/p>\n<\/blockquote>\n

The tweet includes a market performance chart by Goldman Sachs showing the top 25 markets\u2019 total returns as well as their year-to-date risk-adjusted returns.<\/p>\n

Bitcoin tops the total return list at 27%, followed by MSCI Emerging Markets Index at 8%. BTC<\/a> also tops Goldman Sachs\u2019 risk-adjusted return list, with a Sharpe Ratio of 3.1. The price of bitcoin has risen since the firm published its chart. At the time of writing, BTC<\/a> is trading at $23,130, up more than 39% so far this year.<\/p>\n

\"Goldman<\/a>
Goldman Sachs\u2019 YTD performance chart, showing bitcoin at the top. Source: Documenting Bitcoin on Twitter<\/figcaption><\/figure>\n

Gold, which many people have compared bitcoin to as a store of value and a hedge against inflation, ranked several places below BTC<\/a> on both the total and the risk-adjusted return lists. The metal has a total return of 6% year-to-date and a Sharpe Ratio of 2, according to Goldman\u2019s chart. A higher Sharpe Ratio indicates that the investment has yielded higher returns for a given level of risk.<\/p>\n

However, Goldman Sachs said in December last year that gold is a better \u201cportfolio diversifier\u201d than BTC<\/a> since it is likely to be less influenced by tighter financial conditions. Furthermore, the bank\u2019s analysts believe that gold has developed non-speculative use cases while bitcoin is still looking for one.<\/p>\n

Goldman Sachs has been in the crypto space for several years. The firm formally established<\/a> a cryptocurrency trading desk in May 2021. In January last year, the investment bank predicted that BTC<\/a> could reach $100,000<\/a> as the crypto continues to take gold\u2019s market share. Last year, Goldman Sachs executed its first OTC crypto transaction<\/a>, offered its first bitcoin-backed loan<\/a>, and launched a data service<\/a> to help investors analyze crypto markets.<\/p>\n

Do you think bitcoin will continue to be the best-performing asset this year? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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