Bitcoin and gold among worst-performing assets in 2023

Bitcoin and gold are experiencing the weakest returns among major asset classes in 2023, marking the first time since 2011 that both have occupied the bottom two spots together. Bitcoin is down 7.3% and gold is down 7.5% this year, placing them at the bottom of 21 major asset classes. Gold had a strong performance last year with a 63.7% increase, but has since weakened, closing at 3995.81 on Oct. 23, below 4000 for the first time since July. Bitcoin is down about 35% from its peak of 126000 in October last year. Both assets do not generate interest income, making them less attractive compared to bonds or cash-like assets in a rising interest rate environment.

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