The S&P 500 index soared to a new record, but its value in Bitcoin terms has decreased, highlighting the digital asset's outperformance . On Thursday, the S&P 500 closed at a record high of 6,280.46, extending its year-to-date gain to 7% . However, when measured in Bitcoin, the large-cap index is down 15% so far in 2025, according to market commentator The Kobeissi Letter .
Bitcoin has dramatically outperformed the benchmark stock index since its inception, and its performance against major tech stocks like Nvidia, Tesla, and Netflix has been equally remarkable . Analyst Charlie Bilello highlighted Bitcoin's meteoric rise over the past decade compared to these and other assets, underscoring BTC's standout outperformance .
Bitcoin's record rally this year has been fueled in part by growing institutional demand, with investors pouring money into spot Bitcoin ETFs . As of Friday, the 12 US spot Bitcoin ETFs held a combined 1,264,976 BTC worth $148.6 billion, representing over 6% of Bitcoin's total supply .
In the first half of 2025, strong demand for Bitcoin helped push digital asset ETFs to the third-largest fund category by inflows, behind only short-term government debt and gold .
While the S&P 500 has seen 47 record highs in 2024 , the rise of Bitcoin has been even more impressive .
Overall, 2024 was a banner year for U.S. stocks, with the S&P 500 up more than 23% . However, the comparison to Bitcoin paints a different picture, highlighting the potential returns and risks associated with digital assets .