Goldman Sachs, Wells Fargo stocks outperformed Bitcoin in 2021

Both Bitcoin and stocks are increasingly emerging as crucial investment tools, having registered a surge in value over the past year. However, despite Bitcoin’s increase in value this year, some stocks from the traditional sector have recorded a significant return on investment compared to the digital currency.

According to data acquired by cryptocurrency trading simulator CryptoParrot, among selected stocks, pharmaceuticals firm Moderna (MRNA) outperformed Bitcoin’s return on investment in 2021 on a year-to-date basis by a whopping 243.87%, while the cryptocurrency underperformed the stock by -60.85%.

Semiconductor manufacturer Nvidia (NVDA) also outperformed Bitcoin by 57.84%. The digital currency underperformed the stock by -9.18%. Tech giant Google (GOOGL also outperformed the digital currency by 57.38%, while Bitcoin underperformed by -7.10%.

Elsewhere, from the financial world, Wells Fargo (WFC) outperformed Bitcoin by 54.61%. Banking giant Goldman Sachs (GS) also recorded higher returns by 46.98%. The bank’s stock underperformed Bitcoin by -2.51%. Microstrategy (MSTR) also outperformed the cryptocurrency by 34.87%. On the flip side, the Bitcoin ROI underperformed the stock by -2.45%.

Stocks recovery boosts returns

The report highlights the contributing factors behind the stocks outperforming Bitcoin in 2021. According to the research report:

“The stocks outperforming Bitcoin also highlights the recovery mode of the traditional markets. In 2020, the stock market experienced a turbulent moment at the onset of the coronavirus pandemic. However, the stock market has since recovered, with specific indices hitting record levels.”

With the growth in the value of Bitcoin and stocks, both investment tools have emerged as diversifiers for portfolios. Notably, Bitcoin’s role in an investment portfolio emanates from the asset’s increasing role as a store of value.