Bitcoin leads three-year returns; silver wins over one year

Bitcoin returned 234% over three years in a CoinDCX comparison, ahead of silver’s 223.58% and gold’s 161.14%, according to Economic Times Markets on October 21, 2026. Indian equity benchmarks lagged: the Nifty 50 gained 13.12% and the Sensex rose 8.48%.

Ethereum delivered 72.69% over the same period, beating the two equity indices but falling behind Bitcoin and both precious metals. The rankings changed sharply when measured over shorter periods, making the investment window central to interpreting the results.

One-year losses contrast with the longer-term gains

Silver led the one-year comparison with a 42.18% gain, followed by gold at 20.92%. Bitcoin lost 28.67% and Ethereum declined 40.93%. Indian equities also fell, with the Nifty 50 down 11.24% and the Sensex down 12.45%.

Over six months, cryptocurrencies were back in front: Bitcoin gained 18.63% and Ethereum rose 17.09%. Silver declined 11.04%, gold lost 2.30%, and the Sensex and Nifty 50 fell 7.70% and 7.36%, respectively.

Bitcoin was also the only asset in the comparison to post a positive one-month return, gaining 3.65%. Ethereum slipped 0.80%, gold fell 3.55% and silver lost 7.15%. The Sensex declined 5.27%, while the Nifty 50 dropped 5.94%.

Monthly purchases produced a different outcome

CoinDCX separately compared hypothetical systematic investment plans involving monthly purchases of ₹10,000 for one year, or ₹1.2 lakh in total contributions. Bitcoin finished with the highest reported value at ₹1,31,598—a gain of ₹11,598, equivalent to 9.67% of the contributed amount.

Ethereum followed at ₹1,30,491. Gold reached ₹1,24,483 and silver ₹1,21,516. Both equity-index SIPs ended below the amount contributed: ₹1,08,405 for the Nifty 50 and ₹1,08,161 for the Sensex.

The positive Bitcoin SIP result and its negative one-year price return measure different things. A series of monthly purchases gives each contribution a different entry price and holding period; it is not equivalent to investing the entire amount at the start. The reported 9.67% is a gain relative to total contributions, not an annualised SIP return.

What investors should weigh

Minal Thukral, CoinDCX’s executive vice-president, growth and crypto business head, said Bitcoin’s contrasting results across periods showed why investors should assess more than one investment horizon. He also said monthly purchases could spread exposure across different price levels rather than depend on a single entry point.

Thukral advised aligning allocations with financial goals, the intended holding period and the ability to bear losses, alongside emergency savings, diversification and periodic portfolio reviews.

The comparison uses data from a cryptocurrency platform and describes historical, hypothetical outcomes—not assured future returns. The published account does not specify exact measurement dates or fully explain price sources, currency treatment, dividend inclusion, taxes and transaction costs. Those details matter when comparing Indian equity indices, precious metals and cryptocurrencies on a like-for-like basis.