Despite the massive setbacks that theĀ cryptocurrency industryĀ suffered in 2022, including multiple bankruptcies and fraud investigations, theĀ bankingĀ giant Goldman Sachs (NYSE:Ā GS) has ranked Bitcoin (BTC) as the best-performing asset in the world this year.
According to the year-to-date asset return report by Goldman Sachs ā a former vocal critic ofĀ Bitcoin, the maiden crypto has performed better than the likes ofĀ S&P 500, gold, real estate, and Nasdaq 100 this year, as per a screenshotĀ sharedĀ byĀ Documenting BitcoinĀ on January 23.
On top of that, BTC has outperformed MSCI emerging markets index, MSCI developed markets, energy, informationĀ technologyĀ (IT),Ā financials, 10-year U.S. Treasury, health care, utilities, materials, crude oil, consumer staples, and many more.
BTC superior results
Indeed, the flagship decentralized finance (DeFi) asset occupies the first spot on this list, with over 27% in total returns and a risk-adjusted ratio of 3.1, and the following assets are far behind, as the graph by Goldman Sachsās Global Investment Research department indicates.
As a reminder, Goldman Sachs added Bitcoin to its returns report in early 2021, following years of crypto skepticism and bashing the maiden digital asset, leading to theĀ introductionĀ of crypto services for its high net-worth clients in the second quarter of 2022, citing increased demand.
Bitcoin price analysis
Elsewhere, Bitcoin was at press time changing hands at the price of $22,546, which represents a decline of 1.65% across the previous 24 hours but nonetheless a gain of 6.57% compared to seven days ago and 33.87% on its monthly chart.
Its market capitalization currently stands at $433.88 billion, outperforming by this indicator all the leading traditional finance entities in the world, including JPMorgan Chase (NYSE:Ā JPM), Bank of America (NYSE:Ā BAC), and Wells Fargo (NYSE:Ā WFC), as FinboldĀ reported.