Bitcoin is no longer beating the big asset classes. Once pitched as “digital gold” and a higher-octane counterpart to the Nasdaq and S&P 500, the world’s largest cryptocurrency now lags all three over the past five years after its recent ferocious rout. Since early 2021, Bitcoin has returned roughly 73% — trailing gold at 164%, the Nasdaq 100 at 82% and the S&P 500 at 75%, and the Nasdaq 100 at 82%, according to data compiled by Bloomberg. On Thursday, Bitcoin was down about 7% as of 10:55 a.m. in New York, with year-to-date losses approaching 30%. While it’s not the first time in Bitcoin’s history that the token ... (full story)