Financial Times

Hey folks.

Michael Saylor, co-founder of Microstrategy highlighted the dominance of Bitcoin over every other asset class after taking to X recently.

According to the chart, since the year 2011, the cumulative returns of Bitcoin have reached 21,372,237%.

The leading cryptocurrency dominates the returns of tech stocks, gold and other assets.

With average returns of 148%, Bitcoin has also outperformed every other asset class on an annualized basis.

But so far, Bitcoin's price performance during this halving cycle has been quite underwhelming. The top cryptocurrency is trailing several mining stocks including the shares of MicroStrategy (MSTR).

In early 2024, following the launch of Bitcoin exchange-traded funds (ETFs), the price of Bitcoin hit its current ATH of $73,737 in the month of March. Notably, before halving Bitcoin managed to exceed the peak of the previous cycle, which is why this bull run is so unexpected.

Due to the absence of bullish catalysts, it is not clear whether Bitcoin will be able to get back its current peak in the near future.

For the first time in over a month, the price of the cryptocurrency fell below $64,000 earlier this week. Due to both the ongoing inflation and the notable withdrawals from Bitcoin investment products, the cryptocurrency is unable to regain its bullish momentum.

Still, some experts of the likes of Peter Brandt and Tom Lee think that the leading cryptocurrency could surge at as high as $150,000 during the cycle.

Not financial advice.

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