Entrepreneur and investor Anthony Pompliano stirred a debate Sunday by comparing the performance of the S&P 500 stock index to that of Bitcoin (CRYPTO: BTC).
In an X post, Pompliano stated that despite the S&P 500 surging over 100% since January 2020, the index has actually fallen 88% when evaluated against Bitcoin, citing data from the Opening Bell Daily newsletter.
“Bitcoin is the hurdle rate. If you can't beat it, you have to buy it,” Pompliano said, suggesting that the apex cryptocurrency has crossed the benchmark required to be considered a viable investment.
See Also: Jack Dorsey Once Said People Unknowingly Work For Social Media, AI Companies For ‘Free’ And They ‘Will Be Replaced’ — Bitcoin Offers a Different Model
An analysis of the period in question showed that Bitcoin outperformed other high-profile investments, soaring 1,621%, while the S&P 500 gained 108% and gold rose 158%.
This year, however, it has lagged gold, but managed to outgained the broad-based index.
However, X user Michael from Montana objected to the analysis, arguing that Bitcoin’s total market capitalization was approximately $2.5 trillion, less than 5% of the S&P 500.
“Stocks are not productive enough if they are being outperformed by stores of value like Bitcoin and gold,” Pompliano said in response.
Pompliano, a vocal Bitcoin advocate, has previously called the asset "humanity's best bet" for protecting people against central bank and government overreach. He also predicted that Bitcoin would go down as the “most important technological invention” of this era
Pompliano's optimism comes amid Bitcoin’s historic run. The apex cryptocurrency soared above $125,000 for the first time on Sunday, a marked rebound from turbulent September
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