Bitcoin and wine are anomalies in our eight year asset class scorecard
The following chart displays the annual performance of different asset classes from 2015 to 2022.
Several things stand out. First, Bitcoin returns have been “binary” over the last few years. For every calendar year in this time frame, it was either the best or worst asset class. The S&P 500 performs quite well most years, whereas emerging market equities and commodities, including gold and oil, are much more volatile.
Wine is another interesting case as it’s one of the few remaining assets measured in GBP. Returns in sterling terms have been decent, but in USD, your cellar would have lost money due to the greenback’s surge.