Bitcoin and gold have emerged as the two worst-performing major asset classes of 2026, marking an unprecedented development in financial markets.
According to Charlie Bilello, chief market strategist at Creative Planning, gold has declined 7.5% since the beginning of the year, while Bitcoin is down 7.3%.
Both assets are now trailing traditional investments, including stocks, bonds and even cash, despite their reputation as stores of value.
The simultaneous losses are particularly noteworthy given that Bitcoin and gold are frequently viewed as alternatives to traditional financial assets during periods of economic uncertainty.
However, neither has managed to deliver positive year-to-date returns in 2026, challenging their appeal as reliable hedges against market turbulence.
Dwarfing gold
Despite Bitcoin’s disappointing performance this year, the world’s largest cryptocurrency remains the undisputed long-term winner among the major asset classes tracked by Bilello.
Since 2011, Bitcoin has delivered an extraordinary annualized return of approximately 120.6%, substantially outperforming traditional financial assets.
For comparison, gold has generated an annualized return of just 6.3% over the same period.
The contrast becomes even more striking when examining the assets’ recent performance.
Bitcoin was the best-performing major asset class in 2024, posting a staggering 121% gain. Gold subsequently took the crown in 2025, soaring 63.7% and outperforming competing investments.
However, their fortunes have reversed dramatically in 2026, with both assets occupying the bottom positions in the performance rankings.
The unusual development underscores how quickly market leadership can change, even for assets with exceptionally strong historical returns.
While the latest figures represent a historic first in Bilello’s comparative data, the final rankings for 2026 remain uncertain, with more than two months left before the end of the year.
