Despite a challenging year for traditional markets, Bitcoin has demonstrated surprising resilience, surpassing the Nasdaq’s decline in performance this year. According to Bernstein, strong institutional demand, regulatory support, and rising institutional adoption are key factors driving this outperformance. The report highlights that while global uncertainties persist, interest in Bitcoin hasn’t waned. Clearer regulations in major markets have helped legitimize crypto assets for traditional investors, creating a foundation for continued growth. 2024 has seen Bitcoin outperform the Nasdaq, with its price down only around 10%, compared to the Nasdaq’s more substantial 16% drop. This suggests that Bitcoin may be evolving beyond its speculative status, offering a distinct asset class capable of weathering macroeconomic storms better than some equities.