Spent Output Profit Ratio compares the sale value of spent outputs with their value when previously created.
SOPR is best understood as part of a system rather than as an isolated definition. Its related coordinates show the mechanisms, incentives and historical records that give the term practical meaning.
SOPR describes how participants value, trade or obtain exposure to bitcoin. Market behavior can affect adoption and mining economics, but it does not rewrite consensus rules. Price evidence and protocol evidence answer different questions.
Understanding SOPR helps distinguish a verifiable Bitcoin mechanism or historical record from slogans, products and market narratives.
For the clearest picture, read this entry together with On-chain analysis, UTXO. The reverse links also lead from On-chain analysis.
Linked to related atlas coordinates
Grounded in a source record
Explains function and trade-offs
Part of the open Bitcoin knowledge graph