In times of uncertainty, it pays to use a wider lens: over the last two years, Bitcoin has consistently outperformed all major assets, and nothing else comes close.
“Bitcoin is dipping again but the long-term picture hasn’t changed… This isn’t a one-off. For two years now, Bitcoin has been a consistent leader.”
Bitcoin’s performance vastly dwarfs traditional stock investments. The leading U.S. stock benchmark, the S&P 500, delivered a far more modest 38% return over the past two years. Despite a strong equities market and multiple record highs for large-cap stocks, the index couldn’t match BTC’s explosive momentum.
“there is no second best. only runner up is treasury companies.”
Even looking at the crypto industry’s number-two coin, Ethereum, only serves to further illustrate Back’s point: ETH posted a roughly 56% gain over the last 24 months.
Bringing up the rear among the major assets is crude oil which saw only marginal growth over the last two years, with returns oscillating and ending flat by summer 2025..
The recent selloff has more to do with macroeconomic jitters, tariffs, and employment worries than any change in Bitcoin’s fundamental value proposition. Bitcoin’s volatility still tracks closely with broader market nerves during such risk-off stretches. But for two years straight, Bitcoin has shaken off the corrections like a champ and set the pace for asset growth.
Its predictable supply schedule, decentralized nature, and increasing adoption by both retail and institutional investors have kept the rally alive.
Meanwhile, Ethereum remains competitive but has not been able to outpace BTC, and gold’s reliable inflation hedge status has still meant far smaller returns. Crude oil continues to struggle under the weight of shifting energy trends and macroeconomic pressures, providing little of the performance or excitement seen in digital and financial assets.
Bitcoin’s short-term slumps may look dramatic, but pullbacks are part of its DNA and the data doesn’t lie: since mid-2023, BTC has trounced gold, U.S. stocks, Ethereum, and crude oil. If in doubt, zoom out, as ecoinometrics states:
“maybe it’s not worth panicking over a move that looks more sentiment-driven than based on fundamentals.”
