For years, bitcoin BTC $ 63,894.84 trounced stocks and most other assets, and supporters pointed to the outperformance as proof the largest cryptocurrency was also the best store of value. That chart is the S&P 500-to-bitcoin ratio, which measures how much bitcoin it takes to buy the index. There were brief instances of stocks outperforming BTC, lifting the ratio, but never beyond that average. In recent weeks, the ratio hasn't just topped the 200-week average, it's established a firm foothold above it, clearly visible on the far right of the chart. The Nasdaq/BTC ratio is showing the same first-ever crossover above the 200-week average.