With bitcoin down over 66% from its highs earlier in the year, it may sound pretty unbelievable, but the standard bearer of the crypto-currency space is still up over 50% on a y/y basis. That’s right, back in early October of 2017, bitcoin was trading at a price of just $4,283 compared to today’s price of $6,463.Bubbles can take quite a long time to fully deflate!
With bitcoin still trading up over 50% from where it was a year ago, it is actually outperforming all but 12 individual stocks in the Nasdaq 100 during that span. As shown in the table, even though the Nasdaq 100 has been the best performing US equity index, just 12 of the index’s components are outperforming bitcoin over the last year. Just to show how timing really is everything when it comes to investing, though, while just 12 Nasdaq 100 stocks are outperforming bitcoin over the last year, on a YTD basis every single one of them has outperformed bitcoin.
