A $1,000 bet on the S&P 500 in July 2021 now beats the same bet on Bitcoin (BTC). Stocks won even though Bitcoin took the wilder ride.
Many proponents of Bitcoin have pointed to the digital’s asset’s performance against traditional investment vehicles over the years. However, with Bitcoin now way below 50% of its all time high, more steady investments are overtaking.
The Numbers
Bitcoin closed at $35,171 on July 1, 2021. It sits at around at $58,811 as of writing. That marks a gain of about 68%.
Bitcoin trails the S&P 500 over 5 years but still beats it over 10, a stretch in which the index gained 267%. Image Source: Trading View
The S&P 500 closed at 4,319.94 on July 1, 2021. It closed at 7,499.36 on June 30, 2026. That marks a gain of about 74%.
The S&P 500’s growth over the same period has been much more steady. Image Source: Trading View
A $1,000 stake in the S&P 500 grew to roughly $1,736. The same $1,000 in Bitcoin grew to roughly $1,676. Stocks came out around $60 ahead.
Stocks Won With a Much Smoother Ride
Bitcoin’s return looks unremarkable next to the risk it carried. Bitcoin rallied to nearly $69,000 in November 2021. It then crashed below $17,000 during the 2022 crypto winter. It surged past $120,000 in 2025 then slid back below $60,000 most recently.
The S&P 500 never came close to that kind of swing. Its worst drawdown in the same stretch hit about 25% in 2022, a fraction of Bitcoin’s peak-to-trough loss.
Bitcoin has beaten the index by far wider margins over longer stretches. Back in 2019, BeInCrypto reported a 250,000% Bitcoin gain since 2011, against a 147% gain for the S&P 500 over the same span.
This time, Bitcoin’s extra volatility didn’t pay off. Investors took on far more risk and still finished behind stocks.
