Wall Street veteran says Bitcoin crushed S&P 500 in decade-long returns
Wall Street veteran and The Big Bitcoin Book author Fred Krueger has shared a chart comparing different asset classes in terms of returns they generated.
And guess which asset topped the chart?
Well... Bitcoin.
Yes, Bitcoin beat several well-established and well-trusted assets like the S&P 500 index, Nasdaq, gold, real estate, and 10-year U.S. Treasury.
Of course, it beat the U.S. dollar too.
Related: What is Crypto? Cryptocurrency explained
On Sep. 1, Krueger posted a chart on X that showed the returns generated by select assets during 2014-24.
Pick your weapon. pic.twitter.com/MtmNtsJGr8
— Fred Krueger (@dotkrueger) September 1, 2025
If we look at real return after factoring in 7% inflation and 20% capital gains tax, Bitcoin generated the maximum return among all the assets.
As per Krueger's calculation, Bitcoin generated a 46.2% return during the 10-year period.
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In contrast, the S&P 500, the benchmark index of the U.S. stock market, generated a return of only 2% during the same period.
NASDAQ was slightly better than the S&P 500, generating a 4% return.
Gold, the precious metal that Bitcoin is often called the digital version of, generated only a 0.5% return.
Investing in the other listed assets would have generated a negative return, the chart showed.
Real estate in the U.S.: -1%
10-year Treasury: -4%
U.S. dollar: -7%
Krueger said,
"Pick your weapon."
Bitcoin's price was only slightly below $800 around the beginning of January 2014. Over the next 10 years, it grew 132 times to reach above $106,000 toward the end of December 2024. It even hit an all-time high (ATH) of $124,457.12 on Aug. 14.
As per Kraken's price feed, Bitcoin was trading at $109,053.02 at the time of writing.
Disclaimer: The content above is intended for informational purposes only and should not be taken as financial advice. Do your own research before investing.
This story was originally reported by TheStreet on Sep 2, 2025, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.