According to U.Today, MicroStrategy co-founder Michael Saylor has emphasized Bitcoin's supremacy over all other asset classes. Since 2011, Bitcoin's cumulative returns have soared to 21,372,237%, significantly outpacing the returns of gold, tech stocks, and other assets. On an annualized basis, Bitcoin has also outperformed every other asset class, with average returns of 148%.
However, during this halving cycle, Bitcoin's price performance has been somewhat disappointing. The leading cryptocurrency is currently trailing behind the MicroStrategy stock and a number of mining stocks. Following the introduction of Bitcoin exchange-traded funds (ETFs) in early 2024, the leading cryptocurrency reached its current all-time high of $73,737 in March. This bull run is considered unusual as the flagship cryptocurrency managed to exceed the peak of the previous cycle before halving.
At present, Bitcoin is down 12.73% from its record high, and it remains uncertain whether it will be able to regain its current peak in the near future due to the absence of bullish catalysts. Earlier this week, the cryptocurrency fell below $64,000 for the first time in over a month. The cryptocurrency is struggling to restore its bullish momentum due to significant outflows from cryptocurrency investment products and ongoing inflation that is hindering further rate hikes.
Despite this, some experts, including Peter Brandt and Tom Lee, predict that the largest cryptocurrency could reach as high as $150,000 during this cycle.
