Abstract

In this study, portfolio performance, risk, and return are compared between the cryptocurrency Bitcoin and equities and gold as alternative investments in the digital age. This type of quantitative study uses comparative approaches. Monthly closing price data was located online or on websites for the secondary data used in this study. The saturation sampling approach was used to get 180 data from the sampling of samples. The analytical approach utilized with the SPSS 26.0 for Windows application comprises quantitative analysis, normality testing, homogeneity testing, and hypothesis testing. The study’s findings reveal that: (1) the returns offered by bitcoin, IDX30 shares, and Antam gold are not significantly different; (2) the risks offered by bitcoin, IDX30 shares, and Antam gold have significant differences; (3) the performance offered by bitcoin. There are significant differences between IDX30 shares and Antam gold with the Sharpe method; and (4) the performance offered by bitcoin, IDX30 shares, and Antam gold with the Treynor method has a significant difference.
 Keywords: cryptocurrency, investment, portfolio performance, stock, gold, risk, return

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