Bitcoin has been less volatile than Nvidia for over three years now. Even with Bitcoin pushing to new all-time highs, its realized volatility is still declining. It’s no longer an outlier. Bitcoin now sits comfortably in the same volatility range as large-cap growth stocks.

Sure, it’s still more volatile than gold or broad equity indices. But Bitcoin also offers a much higher return potential than those lower-volatility assets. Follow @ecoinometrics for more data-driven insights on Bitcoin and macro.