According to Phil Rosen, co-founder of the Opening Bell Daily newsletter, while the S&P 500 has gained 106% in U.S. dollar value since 2020, it has collapsed by roughly 88% when measured in Bitcoin terms.
S&P 500 Strong Run Falls Short
The observation, shared in an October 5 X post, has fueled a wave of celebration among Bitcoin advocates who see the comparison as proof of the digital asset’s dominance.
The S&P 500, which tracks the performance of 500 leading U.S. companies, has long been the hallmark of stability and steady growth. Historically, it has delivered an average inflation-adjusted return of about 6.7% since its inception in 1957—outpacing inflation and forming the basis of Buffett’s famous 90/10 strategy: 90% in the S&P 500, 10% in short-term Treasury bonds.
Despite the S&P 500’s continued rally in 2025—reaching a record $6,715.79, up 14.4% year-to-date—it still trails behind Bitcoin, which has soared 32% this year and touched a new all-time high of $125,000 over the weekend.
Bitcoin Outpaces Traditional Markets by a Wide Margin
To put that into perspective, data from OfficialData.org shows that a $100 investment in the S&P 500 at the start of 2020 would now be worth around $209.85. The same $100 invested in Bitcoin would have grown to approximately $1,473.87, underscoring Bitcoin’s extraordinary returns compared to traditional assets.
Still, experts caution that comparing the two directly isn’t entirely fair. The S&P 500 represents a diversified index of blue-chip companies with relatively stable growth, while Bitcoin is a single, decentralized digital asset driven by scarcity, deflationary design, and global adoption as a hedge against fiat depreciation.
Bitcoin also carries higher volatility and a smaller market capitalization—around $2.47 trillion, compared to the S&P 500’s $56.7 trillion. Yet, as institutional adoption accelerates and investors seek alternatives to traditional equities, Bitcoin’s performance suggests it’s no longer just a speculative bet—it’s becoming a serious competitor to Wall Street’s most trusted benchmark.
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