Bloomberg Intelligence Senior Commodity Analyst Mike McGlone diagnosed that Bitcoin (BTC) shows high volatility compared to the S&P500, but its investment performance is relatively sluggish. He argued, "One-tenth of the BTC price first recorded a similar level to the S&P500 index (SPX) in 2021, and currently, the two figures are largely similar. However, BTC's volatility is about three times that of the S&P500. It is difficult to consider it an efficient asset in terms of portfolio and risk management, as it takes on high risk and correlation without delivering corresponding performance."
