Bitcoin led the profitability ranking in July: 10.1% against all assets of the Russian market
As of the end of July 2026, bitcoin demonstrated impressive performance, delivering investors a return of 10.1% in ruble terms. This result allowed the flagship cryptocurrency not only to outpace all traditional instruments of the Russian market, but also to firmly establish itself as a leader among foreign assets tracked by the regulator.
In a fresh review published by the Central Bank, bitcoin took a separate position in the reference block of foreign instruments. When calculating the final ruble return, not only price changes were taken into account, but also dividend payments, coupon income, and currency revaluation. This means the figures reflect the real result for a Russian investor, rather than just the movement of quotes in dollar terms.
Bitcoin outpaces all competitors
The gap between bitcoin and its closest pursuer proved significant. Following BTC was the chemical production segment with a return of 7.9% — a lag of more than two percentage points. For comparison, the U.S. stock index S&P 500 TR returned 2.6%, while the U.S. Treasury Bond Index delivered only 1.7%. Both foreign benchmarks noticeably trailed the cryptocurrency.
In the Russian part of the ranking, the picture looks as follows: transportation showed 5.5%, construction — 4.9%, electric power — 4.0%. Retail trade rounded out the top group with a result of 3.6%. Currency deposits also ended in positive territory: yuan deposits returned 3.1%, U.S. dollar deposits — 2.8%, and euro deposits — 2.6%.
It is worth noting that the regulator deliberately does not mix the cryptocurrency with Russian assets, instead placing it in a separate reference block. This approach makes it possible to clearly demonstrate the scale of BTC's return against the backdrop of instruments familiar to domestic investors — from deposits to corporate bonds.
Among the month's laggards were substitute bonds, which lost 0.9%, the Moscow Exchange index, which declined by 1.2%, and the metals and mining sector, which posted minus 6.1%. Meanwhile, over the past 12 months, the best total return was delivered by gold, corporate bonds, and ruble-denominated money market instruments.
My view: The 10.1% figure is not just volatility, but a reflection of sustained institutional demand for bitcoin as a safe-haven asset amid global uncertainty. However, investors should remember: high returns always come with high volatility, and past results do not guarantee future performance. Diversification remains a key principle of sound capital management.