Goldman Sachs: BTC has pumped 40% so far this year, but gold has a better return on risk-adjusted basis than BTC.

BlockBeats News, October 8th, Goldman Sachs analysis shows that BTC has pumped more than 40% this year, outperforming major stock indices, fixed income securities, gold, and oil. However, according to Goldman Sachs data, although BTC has performed well, its fluctuation nature results in a return-to-risk ratio of less than 10%, far below the industry-leading level of nearly 20% for gold. The low risk-adjusted return of BTC validates its high fluctuation nature, making it unsuitable as a safe-haven asset similar to gold. This is also the reason why traditional institutions tend to mitigate BTC price fluctuations through arbitrage strategies.