Home | Crypto News | Bitcoin Surges 80% in First Half of 2023, Becoming 12th Largest Global Asset

Bitcoin Surges 80% in First Half of 2023, Becoming 12th Largest Global Asset

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The leading cryptocurrency, bitcoin (BTC), outperformed the Nasdaq Index, Nikkei 225 Index, Dow Jones, S&P 500, Russell 2000, spot gold, the U.S. Dollar Index, and the Japanese yen in the first half of 2023. BTC also rose 14 spots to become the 12th largest asset by market capitalization since 2022.

This year, bitcoin has demonstrated incredible resiliency, starkly contrasting to the challenging “Crypto Winter” felt throughout 2022. As one of the outstanding performers across a wide range of global assets, BTC had a first-half 2023 increase of over 80% against the US dollar.

Colin Wu, a Chinese journalist with a reputation for blockchain reporting, brought attention to this outstanding feat on July 1 when he shared BTC’s market performance along with several other well-known assets on Twitter.

The crypto reporter tweeted, “Data shows that in the first half of 2023, Bitcoin increased by 83.8%, ranking first, far exceeding other major assets in the world.” “Other significant national stock markets increased, while the Nasdaq Index, which ranked second, increased 31.7%. The least expensive energy source, natural gas, saw a 37% price drop. All other energy prices also decreased.

A wide range of influential players, including the Nasdaq Index, Nikkei 225 Index, Germany DAX Index, Euro Stoxx 50, S&P 500, Shanghai Composite, and significant currencies like the yuan, yen, pound, ruble, and 10-year U.S. Treasury notes, were included in Colin Wu’s tweet that offered an intriguing comparison of assets against Bitcoin.

The figures speak for themselves as of July 5, 2023, at 10:40 a.m. (ET): BTC has soared by an incredible 80.96% versus the US dollar since December 27, 2022. BTC was worth $16,768 per unit back then, but it has already firmly eclipsed the $30K mark.

According to historical statistics from December 27, 2022, BTC was previously the 26th-largest asset in the world by market capitalization. BTC has risen dramatically over the past six months to take 12th place among the most valuable assets in the world.

TSMC, a well-known semiconductor manufacturer, is currently above it, and Berkshire Hathaway, the renowned investing company run by business tycoons Warren Buffet and Charlie Munger, is just below it.

The market capitalization of Berkshire Hathaway is $152 billion more on Wednesday than that of BTC. Interestingly, Berkshire Hathaway’s poor performance during this period pales compared to the gains made by BTC in the first half of the year since Berkshire shares only experienced a minor increase of 7.54%.

Jay Solano

Jay Solano

Jay is a crypto and NFT enthusiast dedicated to exploring the dynamic world of digital assets. As a crypto blog writer, he is sharing his knowledge of the latest trends, breakthroughs, and investment opportunities in the blockchain world.

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