Goldman Sachs Analysis Shows Bitcoin Outperforms Major Assets in 2023

According to PANews, a recent analysis by Goldman Sachs reveals that Bitcoin has surged over 40% this year, outperforming major stock indices, fixed income securities, gold, and even oil, which has recently risen due to geopolitical tensions. Despite its impressive performance, Bitcoin's volatility remains a significant concern. Goldman Sachs' data indicates that Bitcoin's year-to-date volatility-adjusted return is below 10%, significantly lower than gold's industry-leading risk-adjusted return of nearly 20%. In absolute terms, gold has risen by 28%. The relatively low risk-adjusted performance of Bitcoin supports the long-held view of cryptocurrency skeptics that Bitcoin's high volatility prevents it from being a safe haven asset like gold.