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Crypto

Bitcoin's 10-year scorecard crushes U.S. large-cap funds

Bitcoin gained about 87-fold over the past decade, while 87 percent of U.S. large-cap active equity funds failed to beat their passive benchmarks, data showed. Morningstar figures through June 30 put the share of active funds that outperformed at 13 percent. Bitcoin rose from $673.34 on June 30, 2016, to $58,558.86 on June 30, 2026, far outpacing SPY’s 10-year annualized total return of 15.35 percent, though Bitcoin investors had to endure sharp drawdowns.

Crypto

Famous short seller says $80 billion arbitrage opportunity between Strategy and bitcoin

Short seller James Chanos said there is an arbitrage opportunity of up to $80 billion between Strategy and bitcoin, arguing the company’s stock trades at a significant gap to the value of its bitcoin holdings. He said Strategy should not be treated as economically identical to bitcoin because investors also take on exposure to the company’s debt, preferred securities, financing costs, software business and management decisions.