Whether or not bitcoin is in a bubble, the cryptocurrency's performance "dwarfs" nearly all bubbles, including the 1929 stock market crash, investor Ken Fisher told CNBC on Wednesday.

Bitcoin, which has surged more than 1,500 percent this year, has many market participants warning of a bubble.

Fisher suggested looking at the peak of prior bubbles with that of the popular digital currency.

"If you look at bitcoin coming up to this point today and overlay it with the peak, it dwarfs all those other bubbles," the executive chairman and co-chief investment officer of Fisher Investments said. "Gold a couple of times, 1929. Nineteen-ninety with the Nikkei, 2000 with the Nasdaq. You can just go down the list: boom, boom, boom, boom, boom."

"This one in magnitude, whether it's a bubble or not, the price move around that dwarfs every bubble that's ever occurred," Fisher added in an interview on "Squawk Box."