New data indicates that Bitcoin’s (BTC) long-term performance shows the S&P 500 has lost nearly all its value when measured in BTC terms.
These insights emerge at a time when both asset classes are trading at new record highs. For instance, Bitcoin has reached an all-time peak of $118,000, while the S&P 500 is edging close to the 6,300 mark.
By press time, the maiden cryptocurrency was trading at $117,624, having rallied over 6% in the last 24 days, while in the past week, BTC is up 8%.
Bitcoin seven-day price chart. Source: Finbold
Regarding their relative long-term performance, the S&P 500 priced in Bitcoin is now down 99.98% since 2012, one of the most dramatic asset revaluations in modern financial history, according to data shared by market commentary platform The Kobeissi Letter on July 11.
Year-to-date, the S&P 500 measured in Bitcoin is down another 15%.
Bitcoin v. S&P 500 performance. Source: Bitbo
Overall, the data suggests that Bitcoin’
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