Many friends are complaining that $BTC has risen too little compared to gold, and the gap is even larger compared to silver. Even the S&P 500 has left Bitcoin behind, but is the actual situation really like this?

I chose April 10, 2023, as a reference point because it was when the news first broke that BlackRock was going to apply for a Bitcoin spot ETF. This was also the first time the world's strongest asset management company applied for a cryptocurrency ETF. I believe this point marked the beginning of BTC's entry into institutional investment history.

From this point until 5 AM Beijing time today when the U.S. stock market closed:

The price of BTC rose from $28,342 to $89,256, an increase of 3.149 times.

The price of gold rose from $1,945 to $5,447, an increase of 2.8 times.

The price of silver rose from $22.9 to $105.6, an increase of 4.611 times.

The S&P 500 rose from 4,085 points to 6,978 points, an increase of 1.708 times.

The reason for using this data for comparison is that Bitcoin only began to gradually enter the eyes of institutions from this time, while gold, silver, and the S&P 500 had long been included in institutional allocations through ETFs. Therefore, from the perspective of institutional entry, BTC's increase is only lower than that of silver, and even higher than that of gold and the S&P 500. It's important to note how long Bitcoin's history is compared to the histories of the other three assets.

With the progress of institutional buying of BTC, I believe that Bitcoin's development will not stop here.

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