Adam Livingston(@AdamBLiv):Bitcoin vs. The Stock Market Strip out Bitcoin's volatility and the trend is hard to argue with. 1 BTC priced in shares of the total US stock market (VTI), 4-year moving average: Jan 2020: 34.6 shares Today: 222.9 shares That's 6.4x, or 32% a year, against stocks. YoY growth of the 4Y MA: 2021: +92% 2022: +32% 2023: +16% 2024: +30% 2025: +22% 2026: +7% It hasn't had a down year once. It rose on 2,464 of 2,465 days, including the 2022 crash and this year's 42% drawdown. The spot ratio swings 66% a year. The 4Y average swings 1%. The noise is the price. The signal is the slope. Bitcoin is the apex asset:

2026.10.04 04:07

Bitcoin vs. The Stock Market Strip out Bitcoin's volatility and the trend is hard to argue with. 1 BTC priced in shares of the total US stock market (VTI), 4-year moving average: Jan 2020: 34.6 shares Today: 222.9 shares That's 6.4x, or 32% a year, against stocks. YoY growth of the 4Y MA: 2021: +92% 2022: +32% 2023: +16% 2024: +30% 2025: +22% 2026: +7% It hasn't had a down year once. It rose on 2,464 of 2,465 days, including the 2022 crash and this year's 42% drawdown. The spot ratio swings 66% a year. The 4Y average swings 1%. The noise is the price. The signal is the slope. Bitcoin is the apex asset: