According to Goldman Sachs, Bitcoin will be the best-performing asset in 2023

Goldman Sachs has classified Bitcoin (BTC) as the best-performing asset in the world in 2022, despite the significant losses the cryptocurrency sector endured in 2022, including many bankruptcies and fraud probes.

According to the year-to-date asset return report from Goldman Sachs Bitcoin has outperformed the S&P 500, gold, real estate, and Nasdaq 100. A picture of the report was posted by Documenting Bitcoin on January 23.

In addition, BTC has outperformed the MSCI emerging markets index, MSCI developed markets, energy, information technology (IT), financials, 10-year U.S. Treasury, health care, utilities, materials, crude oil, and several other indices.

In fact, the flagship decentralized finance (DeFi) asset ranks top on this list, with nearly 27% in total returns and a risk-adjusted ratio of 3.1, while the subsequent assets trail far behind, as shown by the graph provided by Goldman Sachs’s Global Investment Research division.

As a reminder, Goldman Sachs introduced Bitcoin to its returns report in early 2021, after years of crypto scepticism and trashing the first digital currency, resulting in the launch of crypto services for its high net-worth customers in the second quarter of 2022 due to rising demand.

Bitcoin was trading at $22,546 at the time of publication, representing a decrease of 1.65% over the previous 24 hours but an increase of 6.57% over the previous week and 33.87% on its monthly chart.

As stated by Finbold, its current market value is $433.88 billion, exceeding by this metric the world’s biggest conventional financial institutions, including JPMorgan Chase (NYSE: JPM), Bank of America (NYSE: BAC), and Wells Fargo.

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