The ASX200 index was tracking Australia's M3 money supply growth rate steadily until the GFC.

What this shows is that prior to the GFC, if the M3 money supply expanded by 7% in a year, the ASX200 index generally followed suit.

Since the GFC, the money supply has continued to grow at a compounded rate, while the ASX200 has fallen short.

The major wealth creators of the ASX200 were those who timed the market exceptionally well, selling at the highs of 2019, repurchasing the index at the lows of COVID-19, and since then achieving returns that have mirrored M3 money supply growth.

How many had the skills to time the Covid drop?

The ASX200 is made up of the largest 200 businesses on the Australian Stock Market, but only a small percentage of those companies are responsible for the recovery since the GFC and COVID. Many others have delisted or been acquired.

Stocks can also be diluted through capital raises.

Bitcoin, on the other hand, is a fixed-supply asset, the only guaranteed fixed asset in the world.

Not only does it track the M2 global liquidity market, but it has also outperformed by a factor of 7–10x depending on the year.

Choose your assets wisely.