According to Fixygen, August was one of the best months for Bitcoin in recent years, but since the start of 2026, U.S. stocks have so far outperformed.
As of August 31, the S&P 500 had risen by approximately 13% year-to-date, while the Nasdaq was up 13.6%.
After falling from its record highs in 2025, Bitcoin remained about 11% below its year-to-date level even after the August rally, while gold was slightly in the black.
However, over the past six months, the situation has been the opposite: Bitcoin has already outperformed both the S&P 500 and gold.
This clearly illustrates the main drawback of simply comparing asset returns—the result depends drastically on the date chosen.
Bitcoin remains significantly more volatile: it can recover from a decline in just a few weeks—a recovery that would take the stock market a year—but it can just as quickly lose those gains.
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