Despite the strong volatility seen in the Bitcoin price throughout July, the asset class has outperformed some of the big tech giants like Google, Microsoft, Apple, Meta, and Amazon, on a 12-month risk-adjusted basis. Only Nvidia (NASDAQ: NVDA) has managed to pull off a better performance than BTC amid the solid boom for artificial intelligence over the last year.
Nvidia Beats Bitcoin
Despite the strong tech market rally over the last year, most of the big tech giants have fallen way behind Bitcoin percentage returns on a 12-month chart. As per the below chart, only Nvidia has managed to beat Bitcoin with 140% gains on the yearly chart while BTC stands at 120% gains as of the current Bitcoin price of $61,500.
As shown in the below image, most of the big tech giants have given less than 40% returns in the same time period while the gold returns are somewhere around 20%, per the data presented by ecoinometrics.
Courtesy: Ecoinometrics
However, it’s the macro conditions currently drivin
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