Bitcoin vs NASDAQ (QQQ)
QQQ is the cleanest proxy for the long-duration risk-on trade. Bitcoin is often treated as a leveraged version of the same exposure — the comparison tests how true that is.
| METRIC | BITCOIN | NASDAQ 100 (QQQ) |
|---|---|---|
| Total return | 14497.3% | 663.2% |
| Multiple | 145.97x | 7.63x |
| CAGR | 61.4% | 21.5% |
| Max drawdown | -77.8% | -32.6% |
| Annualized volatility | 78.1% | 18.5% |
| Sharpe ratio(rf 4%) | 0.56 | 0.84 |
The NASDAQ 100 has been one of the best-performing major indices of the last decade, with double-digit CAGR and drawdowns that have stayed within historically normal ranges.
Bitcoin shows higher beta to QQQ in risk-on regimes and partial decoupling in risk-off ones. Correlation is unstable, which complicates the 'just Nasdaq with leverage' framing.
What this leaves out
Monthly closes only. Bitcoin is sampled from a weekly close series, the comparison asset uses Tiingo end-of-month adjusted closes. Prices are price-only with no dividends, no fees, no spreads, no taxes, no storage costs. Sharpe assumes a 4% annual risk-free rate. A different start or end month can flip the ranking, so treat these stats as one window, not a forecast.
Related comparisons
- Bitcoin vs Gold Since 2018
- Bitcoin vs S&P 500: 10-Year Comparison
- Bitcoin vs Nvidia Stock
- Bitcoin vs Microsoft Since 2020
- Bitcoin vs Apple Stock
- DCA backtester, what steady buying would have become
- Power-law corridor, Bitcoin's long-run fair-value model
Bitcoin price source: internal monthly close series. Comparison asset: Tiingo daily EOD adjusted close, sampled at month end.