Bitcoin vs Ethereum: 5-Year Scorecard
2021 - 2025
Cite This Scorecard
"Bitcoin vs Ethereum: 5-Year Performance Scorecard (2021-2025)." Gale Finance, December 31, 2025. https://www.gale.finance/scorecard/5y/btc-vs-eth Free to use with attribution. Please link back to this page or gale.finance.
The Verdict
Year-by-Year Performance
Over 5 years, BTC won 4 individual years while ETH won 1. Despite winning more years, ETH had the higher total return.
| Year | Bitcoin | Ethereum | Winner |
|---|---|---|---|
| 2021 | +57.6% | +404.2% | ETH |
| 2022 | -65.3% | -68.3% | BTC |
| 2023 | +154.0% | +91.0% | BTC |
| 2024 | +119.5% | +47.4% | BTC |
| 2025 | -6.4% | -10.9% | BTC |
| Total Wins | 4 wins | 1 wins | BTC |
Cumulative Performance
This chart shows how $100 invested at the start of 2021 would have grown over time.
Price Comparison
Normalized to 100 at start date for comparison
Risk-Adjusted Metrics
How did each asset perform relative to the risk taken? Higher Sharpe, Sortino, and Calmar ratios indicate better risk-adjusted returns.
| Metric | BTC | ETH |
|---|---|---|
| Total Return | +198.1% | +307.0% |
| CAGR | +24.4% | +32.4% |
| Volatility (Ann.) | +58.3% | +78.8% |
| Sharpe Ratio | 0.59 | 0.70 |
| Sortino Ratio | 0.85 | 1.00 |
| Calmar Ratio | 0.32 | 0.41 |
| Max Drawdown | -76.6% | -79.4% |
Sharpe and Sortino ratios calculated using 4.23% average risk-free rate for the period.
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Best and Worst Years
BTC Best Year
BTC Worst Year
ETH Best Year
ETH Worst Year
Maximum Drawdown
Maximum drawdown measures the largest peak-to-trough decline. Lower (less negative) is better.
Correlation Analysis
The 5-year average correlation between Bitcoin and Ethereum was 0.83. This high correlation indicates the assets tend to move together.
Bitcoin vs. Ethereum Yearly Average Correlation (5-year)
Frequently Asked Questions
Which performed better over 5 years: Bitcoin or Ethereum?
Bitcoin returned +198.1% compared to Ethereum's +307.0% from 2021 to 2025. Ethereum delivered the higher total return. Bitcoin won 4 out of 5 individual years.
What would $10,000 invested in Bitcoin be worth today?
$10,000 invested in Bitcoin at the start of 2021 would be worth $29,811.31 by the end of 2025. The same amount in Ethereum would be worth $40,695.17.
Which asset had better risk-adjusted returns?
Ethereum had the higher Sharpe ratio (0.70 vs 0.59), indicating better risk-adjusted performance than Bitcoin.
Methodology
- Price data sourced from CoinGecko (BTC) and CoinGecko (ETH)
- Volatility calculated as annualized standard deviation of daily returns
- Sharpe and Sortino ratios use the average 3-month Treasury rate as the risk-free rate
- Calmar ratio = CAGR / Maximum Drawdown
- Year-by-year returns calculated from first to last trading day of each calendar year
Disclaimer: This scorecard is for informational and educational purposes only and does not constitute investment, financial, legal, or tax advice. Past performance is not indicative of future results. All investments involve risk, including the possible loss of principal. Data sourced from third parties may contain errors or be delayed. Always conduct your own research and consult a qualified financial advisor before making investment decisions.