Bitcoin Trails Gold in 2025, But Remains King of Long-Term Returns
Gold is leading asset performance in 2025, but Bitcoin remains the undisputed long-term outperformer, far surpassing traditional markets in cumulative gains.
Bitcoin (BTC) is trading at $116,702, down 0.11% over the past 24 hours, according to CoinDesk. Despite the dip, BTC is still up 25% year to date, making it the second-best performing major asset in 2025—just behind gold, which has gained 29%, according to data from strategist Charlie Bilello.
By comparison, emerging market stocks (VWO) have climbed 15.6%, the Nasdaq 100 (QQQ) is up 12.7%, and U.S. large-cap stocks (SPY) have risen 9.4%. Mid-cap and small-cap indexes (MDY and IWM) are barely positive for the year, with gains of 0.2% and 0.8%, respectively.
This marks the first time gold and bitcoin have simultaneously topped Bilello’s annual asset class rankings.
14 Years of Dominance: Bitcoin in Perspective
While gold is in the lead this year, Bitcoin’s long-term performance dwarfs every other asset class. Since 2011, BTC has delivered a cumulative return of 38,897,420%, according to Bilello’s data.
In contrast, gold’s cumulative return over the same period is 126%, while the Nasdaq 100 returned 1,101%, U.S. large caps gained 559%, mid-caps rose 316%, and emerging markets added just 57%.
Put differently, Bitcoin has outperformed gold by more than 308,000x in the past 14 years.
On an annualized basis, Bitcoin’s average return is 141.7% since 2011. Gold has averaged just 5.7%, compared to 18.6% for the Nasdaq 100 and 13.8% for U.S. large caps.
Bitcoin vs. Gold: A Modern Store of Value Debate
Veteran trader Peter Brandt weighed in on the comparison, stating that while gold has historically been a trusted store of value, Bitcoin may ultimately eclipse it.
“Some think gold is a great store of value — and it is,” Brandt said on X. “But the ultimate store of value will prove to be Bitcoin.” His post included a long-term chart illustrating the erosion of the U.S. dollar’s purchasing power.
His view echoes a growing narrative that Bitcoin’s scarcity, decentralization, and fixed supply give it a unique advantage as a modern hedge.
Eyes on the Next Move
Bitcoin’s ability to hold above the $100,000 mark in a volatile 2025 underscores its resilience. With BTC maintaining a top-two performance spot among global assets, investors are now watching for a potential retest of the year’s high near $123,000.
As macroeconomic data and broader risk appetite continue to shape markets, Bitcoin’s long-term track record keeps it firmly in focus for both traders and institutional investors.
