The S&P 500 Index, despite reaching historical highs in dollar terms, shows a sharp decline compared to Bitcoin. According to Phil Rosen, co-founder of Opening Bell Daily, since 2020, the S&P 500 has lost over 88% of its value when converted to the first cryptocurrency.
This is reported by Finway
Comparison of S&P 500 and Bitcoin: Expert Opinions
Phil Rosen emphasized that despite the record growth of the stock index in dollars, its performance in Bitcoin equivalent is significantly worse. His position was supported by crypto investor Anthony Pompliano, who referred to Bitcoin as the “benchmark of profitability.” In his post, Pompliano highlighted that in recent years, although the S&P 500 has increased in dollars, it has lost most of its value compared to Bitcoin.
“Everyone boasts that the S&P 500 has risen more than 100% since 2020, but in reality, this index has fallen by 88% when measured in a hard asset like Bitcoin.”
Pompliano stressed that if an investor cannot outperform Bitcoin’s profitability, they should consider purchasing this asset. He also noted that stocks cannot be considered sufficiently productive if they lag behind the growth rates of value preservation assets like Bitcoin or gold.
Discussion on the Objectivity of the Comparison
At the same time, not all experts share this viewpoint. An entrepreneur using the pseudonym WellspringGP believes that the comparison is incorrect, as the S&P 500 has added over $25 trillion in market capitalization in recent years — nearly twenty times more than the entire Bitcoin market. He questioned which of these assets is truly productive.
WellspringGP emphasizes that the S&P 500 index includes companies that create real value, while he believes Bitcoin merely consumes resources. However, Pompliano responded by stating that it is Bitcoin’s ability to preserve and multiply value that makes it a leader among investment instruments.
Additionally, it is worth noting that on October 5, 2025, Bitcoin reached a new historical high, surpassing the $125,000 mark.