OKX Research | 10-Year Performance of Major Assets Reveals the Truth: Bitcoin, Gold, US Stocks, US Bonds, and More

During the period 2015-2025, the global financial market went through a tumultuous cycle. From the era of post-financial crisis quantitative easing to a historically low interest rate environment, and then to a sharp tightening cycle triggered by high inflation, the macroeconomic waves have continuously impacted various asset classes. Against this backdrop, crypto assets represented by BTC and ETH outperformed equities, gold, and US Treasury bonds, completing an astonishing transformation from a geeky experiment to an entry on the balance sheets of Wall Street institutions. However, behind the excess returns lies extreme risk — crypto assets experienced deep drawdowns of over 75% at times, with recovery periods often lasting years, while traditional assets demonstrated greater resilience.