Bitcoin surpasses the S&P500: A financial paradigm shift?

Although most people are used to seeing the price of bitcoin in dollars, that is not the only way to measure its value.

The dollar has been the global reference unit for decades due to sheer hegemony, not necessarily for being the fairest or most stable.

But the true value of an asset can also be assessed by comparing it with other financial assets, such as gold, oil, foreign currencies, or even stocks.

And this is where something historic happens: on May 9, 2025, bitcoin reached a new high in its relationship with the S&P500 index, which groups the 500 most influential companies in the United States, such as Apple, Google, Amazon, and Microsoft.

This index is considered a key thermometer of the traditional financial market. The key data point: one bitcoin now equals almost 183 units of the SPY ETF, which replicates the S&P500. Never before has such a marked difference been seen.

This milestone goes beyond the symbolic. It shows how the world's most important digital asset is growing at a faster pace than that of major U.S. companies.

And while BTC still maintains some correlation with the behavior of the S&P500, if this trend continues, we could see a "decoupling," meaning that bitcoin begins to behave independently.

What is driving this growth? A more favorable international environment: advances in trade agreements (like the recent one between the U.S. and the U.K.), expectations of interest rate cuts by the Federal Reserve, and a renewed appetite for risk investments.

In the last 30 days, BTC rose more than 33% in dollars. If this trend continues, it would not be far-fetched to think that we are on the verge of seeing a new all-time high in its valuation. More than an anecdote, this could be a clear sign that the traditional financial world is beginning to yield ground to the new digital playing field.