What you will notice about the three is that they are all store of value. Bitcoin grew faster, but it is a new asset which makes it normal. That does not mean bitcoin will grow as it was in the past because its marketcap has significantly increased. Bitcoin is now in their category. It may not grow more than 50x in the next 50 years, and that is if it grows up to 50x.

You're comparing apples to oranges. Gold has thousands of years of history, and we don't have reliable data on the fluctuations in value that might have occurred during the “first” 10 or 15 years after it began to be used as a store of value a few thousand years ago. The S&P 500 is a different kind of asset, in my opinion. If you’re going to compare it to the stock market, you might as well look to see if you can find a former small-cap stock that skyrocketed in just a few years.

If you need to check with details, check here.
CaseBitcoin.com (useful)

At the main page of casebitcoin.com, you will get some table with enough details but if you need a chart for a visual check, here
https://casebitcoin.com/charts#roi_chart

Only limited supply is not enough to make Bitcoin high value and you can see how many Bitcoin forks failed and died even they have same total supplies as Bitcoin has or some altcoins with smaller total supplies than Bitcoin but their coins don't have high value, even zero value.

BTC price change during its first dozen years (2009-2020) was ca 8 orders of magnitude (from 0.001 USD to 50k USD)
BTC price change during its second dozen years (2021-2032) will probably be +/- 1 order of magnitude in the nowadays USD purchasing power
and the same for its third dozen years (2033-2044).

The first years BTC hyperdeflation was just a matter of beginning. I bet it was similar with stocks 400 years ago and gold few thousands years ago... the gold prices were orders of magnitudes different in different countries just a few hundreds of years ago.

With growth of price and market cap, the ROI annually or cyclically will become smaller with time, as it's true not only with Bitcoin but all other assets. Earliest birds and investors have big advantage of very cheap entry prices but they actually take very high risk like Bitcoin will die. Now in 2026 or some recent years, there was no longer such fear because Bitcoin was already matured enough, strong enough so risk of sudden death no longer exists. However, late comers, late investors had disadvantage of more expensive prices for their accumulations.

However, think positively, if they can buy bitcoin, hold it and get very good profit years later, why don't do that. Why do they have to concern about their entry prices in 2026 and next some years while their investment portfolios are for very long term.

Going from almost nothing to a huge global asset is such a short period of time is just very difficult to ignore, that's definitely why Bitcoin attracted the huge attention it got.

That said, I'm not going to view it from the point that Bitcoin has "beaten" gold or S&P 500. Though they have comparisons but we know they're different assets that started from complete different points.

Before Bitcoin, there was no successful digital currency/asset so it had the advantage of being a new technology going through adoption phase.

That's your personal theory...Remember that bitcoin reaching 50X and above, can be depend on the global adoption..So everything that concerns bitcoin achieving 50X in the next 50 year is determined by the market circles..The price of Bitcoin basically changes, and you and I, doesn't know the future baseline of bitcoin, especially what it will trade on....

Yes its certainly an Apples and Oranges comparison but fun all the same.

---

All 3 are different and all 3 have been compared in the past here many times.

I would like to hope that a good 50% of the Bitcoin investors* did so as a means to escape
the negative points of FIAT and the corrupt banking and financial systems with the belief in
what Satoshi promised in the whitepaper. And the other 50% is speculation which is common
in all markets.

Those percentages are obviously non-scientific but there is obviously a mix of people with
their own goals.

* Investors - I suppose everyone is investing in their own future and in the future of the network.

What I noticed is that Bitcoin is the asset that grew fastest, though we cannot find ways to convince the traditional investor that Bitcoin should be their main focus. This is why they still exhibit caution in their exposure to BTC. I think this will start changing remarkably when governments start investing in Bitcoin, not as a footnote, but as a reserve. What ever happened to president Trump's BTC reserve plan?

This is the good feature of Bitcoin. Being scarce makes it very valuable and with the cause of halving which makes the mining difficulty more difficult. When it happens, that makes the price more expensive.

Including those lost bitcoins forever, the value of those have been intact and will remain in it. So if there will be someone who argues that the price of bitcoin can go to zero someday, that's unlikely anymore.