Goldman Sachs Ranks Bitcoin as the Best Performing Asset of 2022 Despite Industry Setbacks

Despite the numerous setbacks the cryptocurrency industry faced in 2022, such as fraud investigations and bankruptcies, Goldman Sachs ranked Bitcoin this year as the most-performing asset worldwide. According to a year-to-date asset return report by the banking giant, Bitcoin has performed better than traditional assets such as the S&P 500, gold, real estate, and Nasdaq 100.

Documenting Bitcoin shared the report on January 23rd. It shows that BTC outperformed the MSCI developing markets index and MSCI emerging markets. This includes energy, information technology financials, energy, data technology, financials, a 10-year U.S. Treasury and health care. Bitcoin is the top-ranked cryptocurrency with a 27% return on total investment and a risk-adjusted rate of 3.1.

₿REAKING: #Bitcoin is the best performing asset in the world this year, according to latest data by Goldman Sachs pic.twitter.com/vh7f7UIloi

— Documenting ₿itcoin 📄 (@DocumentingBTC) January 23, 2023

Notable is the fact that Goldman Sachs was vocal in its criticism of Bitcoin in the past. They only added it to their returns report in the early 2021. Due to increasing demand for crypto services from its high-net worth clients, the banking giant added crypto services to its second quarter in 2022.

In conclusion, Bitcoin is now the world’s top-performing asset, outperforming traditional assets and indices, despite all the challenges it faces in 2022. This represents a major shift in Goldman Sachs’s previous position on Bitcoin. It also serves as a testimony to the growing acceptance of cryptocurrency. The current Bitcoin price is $22,888.40 USD and the 24-hour trading volume is $27,477.257.090 USD. Important to remember that Bitcoin investing is still high-risk. As such, it’s vital to do your research and only invest what you can afford.