Bloomberg strategist says BTC lags S&P 500 on risk-adjusted returns

Bloomberg Intelligence senior commodity strategist Mike McGlone said Bitcoin has delivered relatively weak investment performance compared with the S&P 500 despite showing much higher volatility. McGlone argued that one-tenth of Bitcoin’s price first reached a level similar to the S&P 500 Index, or SPX, in 2021, and the two figures remain broadly similar now. He said Bitcoin’s volatility is about three times that of the S&P 500, adding that BTC is difficult to view as an efficient asset for portfolio and risk management because it has not generated commensurate returns despite carrying higher risk and correlation.