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Among S&P 500 Companies Only Two Outperformed Bitcoin This Year

Tim Alper
Last updated: | 2 min read

To call 2020 a bumper year for bitcoin (BTC) is something of an understatement, with the most popular cryptocurrency surging to break all sorts of price records while the value of other, more traditional assets has taken a battering.

Source: Adobe/temp-64GTX

But just how well has the token performed against these assets? A closer look at the data reveals that just two of the S&P 500 companies have bested BTC in the year that was, with gold, silver, and the rest also playing second fiddle to bitcoin.

The data was compiled by Yahoo Finance and hosted by the bitcoin-keen software firm MicroStategy. And it indicates that just electric car maker Tesla, which provided a 108% 12-month-return over BTC at the time of writing, and e-commerce firm Etsy, which provided a 14% higher return over the same period, outpaced BTC in 2020.

That means that BTC has outperformed even the likes of Facebook, Microsoft, Netflix and Google operator Alphabet despite the fact that much of the world has been in de facto coronavirus pandemic-induced lockdown for most of the year, with nothing to do but spend time online.

BTC has even outperformed e-commerce giant Amazon, which returned -54% versus BTC in the past year despite a giant surge in online shopping.

Even Pfizer, the developer of one of the much-vaunted coronavirus vaccines, was lagging well behind (-73%) BTC.

And business titans like GM, Nike, Costco, McDonald’s, Starbucks, Walmart and more were nowhere in sight.

Unsurprisingly, BTC also easily bested every single major fiat currency, with the USD -73% behind and the euro at -70%, and the British pound at -71%.

Stock markets fared no better against BTC, with the Dow Jones, the FTSE 100, Nasdaq and all major Asian exchanges behind by similar margins.

Elsewhere, traditional hedges suffered a similar fate: Gold and silver were over 60% behind bitcoin.

At pixel time (13:58 UTC), BTC trades at USD 27,195 and is down by 1% in a day, trimming its weekly gains to 19%. The price rallied by 59% in a month and 270% in a year. However, in the Cryptoworld, many smaller cryptoassets outperformed BTC this year, including ethereum (ETH) (453%), cardano (ADA) (387%), and chainlink (LINK) among others. To compare, market capitalization of ETH, biggest among these three, now stands at almost USD 83bn, compared with BTC’s USD 506bn.

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