Bitcoin Marketcap

$890B

Gold Marketcap

$10.66T

BTC Settlement Volume (24hr)

$16.43B

BTC Inflation Rate (next 1yr)

1.79%

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KEY MARKETS

24hr change

Bitcoin

$47,387  ๐Ÿ“‰

-$275.14

-0.58%


S&P 500

4,410  ๐Ÿ“‰

-64.6

-1.44%


Gold

$1,754  ๐Ÿ“ˆ

+$0.37

+0.02%


Silver

$22.39  ๐Ÿ“‰

-$0.5

-2.2%


Euro

$1.1726  ๐Ÿ“‰

-$0

-0.36%


Yen

ยฅ109.93  ๐Ÿ“ˆ

+ยฅ0.20

+0.19%


Renminbi (CNY)

ยฅ6.4662   

+ยฅ0.01

+0.13%


Oil (WTI)

$71.87  ๐Ÿ“‰

-$0.67

-0.92%


BITCOIN STATS

Bitcoin Marketcap

$890B


BTC Inflation Rate (next 1yr)

1.79%


% Supply Issued

89.61%


BTC Settlement Volume (24hr)

$16.43B


Real Exchange Volume (24hr)

$3.97B


Active Addresses

1.02M


Mining Reward Value (24hr)

$43.1M


GBTC Premium

-17.49%


MSTR Premium

17.27%


BTC Down From ATH

26.71%


BTC Up From Cycle Low

61.67%


RATES & YIELDS

24hr change

UST 3mo

0.04%  ๐Ÿ“ˆ

+0

0%


UST 2yr

0.23%  ๐Ÿ“ˆ

+0.02

+9.52%


UST 10yr

1.34%  ๐Ÿ“ˆ

+0.03

+2.29%


UST 30yr

1.88%  ๐Ÿ“ˆ

+0.01

+0.53%


Fed Funds (EFFR)

0.08%  ๐Ÿ“ˆ

+0

0%


US 10yr Breakeven Inflation

2.35%  ๐Ÿ“ˆ

+0

0%


Real Rate (10yr)

-1.04%  ๐Ÿ“‰

+0.03

+-2.80%


RATIOS

24hr change

Gold:BTC (marketcap)

11.96x   

+0.08

+0.69%


M2:BTC (marketcap)

23.06x   

+0.17

+0.76%


BTC:Oil (price)

658.42x   

+1.12

+0.17%


Gold:Oil (price)

24.43x   

+0.24

+0.98%


US GOVERNMENT STATS

30-day change

Federal Reserve Balance Sheet

$8.45T  ๐Ÿ“ˆ

+$106B

+1.27%


M1 Money Supply

$19.40T  ๐Ÿ“ˆ

+$134B

+0.69%


M2 Money Supply

$20.53T  ๐Ÿ“ˆ

+$146B

+0.71%


BTC ROI

Bitcoin & Traditional Assets ROI (vs USD)

BTC vs Traditional Assets ROI:

 

Bitcoin

Gold

S&P 500

1 year:

+330%

-10%

+32%

2 year:

+360%

+17%

+47%

3 year:

+650%

+45%

+52%

4 year:

+1,079%

+34%

+76%

5 year:

+7,679%

+33%

+106%

6 year:

+20,410%

+54%

+125%

7 year:

+11,600%

+44%

+120%

8 year:

+37,449%

+28%

+157%

9 year:

+377,890%

-1%

+202%

10 year:

+803,441%

-3%

+266%

Data Source: Messari.io, bitcoincharts.com

What is it: This shows bitcoin's ROI vs other potential inflation hedge assets.

Why it matters: As with the historical bitcoin price table, we see bitcoin's extreme outperformance vs other assets here as well. Bitcoin's relatively small size, plus fundamental properties, yield extreme outperformance when even relatively small funds-flows find their way to BTC.

BTC DAYS ABOVE PRICE

Bitcoin Price Closing History by Level

Days Bitcoin Closed Above:

Price

Days Above

% of Bitcoin's Life

$50,000

76

1.64%

$47,324

106

2.28%

$40,000

152

3.28%

$30,000

257

5.54%

$20,000

275

5.93%

$10,000

580

12.50%

Data Sources: Messari.io, bitcoincharts.com

What is it: This the number of days in which bitcoin "closed" (trading level at midnight UTC) above various price levels.

Why it matters: This can give a sense of where bitcoin is currently trading relative to past cycles.

SHARPE 5yr

DOUBLING TIME

THE BITCOIN LIBRARY

3 Sep 2020 | Yassine Elmandjra | Price when published: $10,766 (ROI since: +340%)

Bitcoin - A Novel Economic Institution (Part 1)

Filed under: topic icon fundamentals  medium icon reports

This is part 1 of a two part research piece from Ark Invest, a provider of public-market ETFs focusing on disruptive innovation, in collaboration with Coin Metrics, a provider of on-chain crypto-currency data and analytics. This piece explores Bitcoin as an economic institution from a theoretical perspective, and (in part 2) its potential ROI and fair valuation as an investment asset. Part 1 sets the theoretical foundation for assurances that a monetary system should provide, analyzes the short-comings of the existing financial system, and describes the core properties of bitcoin which set it apart as a transformative technology with fundamentally strong assurances not previously seen in monetary economics.

EXCERPT

This paper lays out the case for Bitcoin. In Part 1, we describe how the Information Age gave rise to Bitcoin, a novel economic institution designed to challenge legacy financial systems. We explain how legacy financial institutions, which have evolved through a trust-based model, appear to have fallen short of the four economic assurances necessary for a predictable financial system. We then analyze Bitcoinโ€™s behavior in relation to these four economic assurances and explain why we believe it is designed uniquely to satisfy them.


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