S&P 500 Has Lost 88% Against Bitcoin

• The S&P 500 index is hitting all-time highs, but the bitcoin equivalent has fallen 88% since 2020, Phil Rosen said.
• Entrepreneur Anthony Pompliano considers the first cryptocurrency a “benchmark for returns.”

Although the S&P 500 continues to update historical highs, in terms of bitcoins, the index has fallen more than 88% since 2020. Opening Bell Daily media co-founder Phil Rosen stated that.

His opinion was supported by crypto investor Anthony Pompliano. In his post, he wrote:

Pompliano noted that bitcoin serves as a “benchmark for returns” and added that if someone isn’t able to outperform it, they will have to buy it.

However, there are those who criticize Rosen’s opinion. An entrepreneur under the pseudonym WellspringGP said the comparison is incorrect, as the S&P 500 has added more than $25 trillion in market capitalization — nearly 20 times the size of bitcoin — and questioned which of these assets is truly productive.

In response, Pompliano noted that stocks can’t be considered productive enough if they are inferior to value preservation vehicles like bitcoin or gold.

However, according to WellspringGP, the S&P 500 represents companies that create real value, unlike bitcoin, which “only consumes.”

Recall, on October 5, 2025, the first cryptocurrency broke the $125,000 mark, setting a new historical record.