There's a compelling case that Bitcoin could start outperforming traditional equities heading into 2026. The S&P 500 has been on a relentless rally since 2022—basically unstoppable. But here's the thing: as the index climbs higher, valuations get stretched, and that risk-reward dynamic keeps deteriorating. The higher it goes, the more expensive it gets. That's the simple math. So while equities have had an incredible run, the marginal returns look increasingly marginal. BTC offers a different profile entirely. Not saying the stock market crashes tomorrow or anything like that—I'm not timing a market dump. Just saying the calculus shifts when you compare the risk-adjusted returns of holding traditional indices versus digital assets. The math gets interesting when you zoom out to 2026.