Bitcoin has often been dismissed as a niche, a fad or worse. But in 2016, it has also been one of the best-performing assets in the world.

Aided by election surprises, a spike in geopolitical uncertainty and falling price volatility, the virtual currency is drawing in traders, potentially sparking a rethink about its novelty status.

Bitcoin’s dollar value rallied 123% in 2016 to $956 per bitcoin, according to the CoinDesk price index. It has been especially strong in December, rising 29%.

For the year, that puts bitcoin’s performance far above the Dow Jones Industrial Average’s gain of 13% and even the year’s hottest commodities and currencies, which include natural gas, up 59%; crude oil, up 45%; and the Russian ruble, up 17% against the dollar.

If bitcoin’s momentum continues, one new digital coin could be worth as much as an ounce of an ancient currency, gold, by next year. With a 13% decline in the past six months, gold is trading at $1,150 an ounce.