Golden Finance reports that Bitcoin has risen 25% so far in 2025, second only to gold's increase of 29.3% among major asset classes. Data shared by financial strategist Charlie Bilello shows that other major asset classes have performed relatively modestly in 2025: emerging market stocks (VWO) rose by 15.6%, the Nasdaq 100 index (QQQ) increased by 12.7%, U.S. large-cap stocks (SPY) rose by 9.4%, while U.S. mid-cap stocks (MDY) and small-cap stocks (IWM) only increased by 0.8% and 0.2%, respectively. This marks the first time on record that gold and Bitcoin have simultaneously occupied the top two positions in annual asset class rankings. In the long term, Bitcoin's cumulative return since 2011 has reached an astonishing 38,897,420%, far exceeding all other asset classes. During the same period, gold's cumulative return was 126%, placing it in the mid-range, lagging behind the Nasdaq 100 index (1101%), U.S. large-cap stocks (559%), mid-cap stocks (316%), and small-cap stocks (244%). According to Bilello's data, Bitcoin's total return over the past 14 years has exceeded gold by more than 308,000 times. In terms of annualized returns, Bitcoin has an average annualized return of 141.7% since 2011, compared to 5.7% for gold, 18.6% for the Nasdaq 100 index, and 13.8% for U.S. large-cap stocks.