Despite Falling Behind Gold This Year, Bitcoin Outperforms All Major Asset Classes Over the Long Run

Gold Leads in 2025, but Bitcoin Remains the Undisputed Long-Term Winner

Despite trailing gold in 2025 performance, Bitcoin continues to outperform all major asset classes over the long term, maintaining its position as the most lucrative investment since 2011.

Bitcoin (BTC) dipped slightly by 0.11% over the past 24 hours to trade at $116,702, according to CoinDesk. Still, it’s up 25% year-to-date, second only to gold, which has returned 29%, according to data shared by financial strategist Charlie Bilello on X.

Both assets have significantly outperformed traditional investment vehicles in 2025. Emerging market equities (VWO) are up 15.6%, the Nasdaq 100 (QQQ) has gained 12.7%, and U.S. large-cap stocks (SPY) are up 9.4%. In contrast, mid-caps (MDY) and small-caps (IWM) have posted marginal gains of just 0.2% and 0.8%, respectively.

Notably, this is the first year on record where both gold and Bitcoin occupy the top two positions in Bilello’s annual asset class performance rankings.

Bitcoin’s Long-Term Edge

While gold may be leading in the short term, Bitcoin’s long-term return profile is unmatched. Since 2011, BTC has delivered a staggering 38,897,420% cumulative return, far outpacing all other asset classes.

Gold, by comparison, has appreciated just 126% during the same period. Even high-performing equity benchmarks — including the Nasdaq 100 (+1,101%), U.S. large caps (+559%), mid-caps (+316%), and small-caps (+244%) — fall well short.

In fact, Bitcoin’s cumulative performance over the past 14 years exceeds gold’s by more than 308,000 times.

On an annualized basis, Bitcoin has averaged 141.7% returns, far above gold (5.7%), the Nasdaq 100 (18.6%), and U.S. large caps (13.8%).

Gold vs. Bitcoin: A Shifting Store-of-Value Landscape

Veteran trader Peter Brandt weighed in on August 8, noting that while gold remains a respected store of value, Bitcoin’s potential surpasses that of traditional safe-haven assets.

“Some think gold is a great store of value — and it is. But the ultimate store of value will prove to be bitcoin,” Brandt posted on X, referencing the long-term decline in the U.S. dollar’s purchasing power.

His remarks reflect the growing investor belief that Bitcoin’s fixed supply, decentralization, and digital nature make it a uniquely positioned asset in an era of monetary debasement and inflationary concerns.

Outlook: Holding Ground Above $116K

Bitcoin’s ability to hold above six figures this year signals continued strength amid macro uncertainty. Market participants are closely watching for a potential breakout toward the yearly high near $123,000.

Traders say upcoming economic data, Fed policy signals, and broader risk sentiment across equities and commodities could be key catalysts for Bitcoin’s next major move.

Meanwhile, long-term investors continue to view BTC’s multi-cycle outperformance as a validation of its growing role as a core portfolio asset.