Bitcoin Marketcap
$1.84T
Gold Marketcap
$16.17T
BTC Settlement Volume (24hr)
$12.90B
BTC Inflation Rate (next 1yr)
1.17%
CASEBITCOIN
making the case for bitcoin every day
SEARCHKEY MARKETS
24hr change
BITCOIN STATS
Bitcoin Marketcap
$1.84T
BTC Inflation Rate (next 1yr)
1.17%
% Supply Issued
90.03%
BTC Settlement Volume (24hr)
$12.90B
Real Exchange Volume (24hr)
$47.48B
Active Addresses
1.02M
Mining Reward Value (24hr)
$89.1M
GBTC Premium
200.86%
MSTR Premium
-80.49%
BTC Down From ATH
-0.88%
BTC Up From Cycle Low
3.00%
RATES & YIELDS
24hr change
RATIOS
24hr change
Gold:BTC (marketcap)
8.78x
-0.36
-3.95%
M2:BTC (marketcap)
11.53x
-0.59
-4.88%
BTC:Oil (price)
1,413x
+77.02
+5.76%
Gold:Oil (price)
38.59x
+0.60
+1.58%
US GOVERNMENT STATS
30-day change
BTC ROI
Bitcoin & Traditional Assets ROI (vs USD)
BTC vs Traditional Assets ROI:
Bitcoin
Gold
S&P 500
1 year:
+159%
+33%
+30%
2 year:
+509%
+52%
+47%
3 year:
+69%
+48%
+26%
4 year:
+429%
+42%
+65%
5 year:
+1,263%
+82%
+89%
6 year:
+2,310%
+117%
+124%
7 year:
+1,100%
+106%
+127%
8 year:
+12,969%
+125%
+167%
9 year:
+29,892%
+148%
+183%
10 year:
+26,011%
+122%
+186%
11 year:
+11,886%
+114%
+228%
12 year:
+784,854%
+54%
+322%
13 year:
+4.0 million%
+57%
+410%
14 year:
+35 million%
+93%
+396%
https://casebitcoin.com
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
$100,000
0
0
$97,382
0
0
$90,000
6
0.10%
$80,000
11
0.19%
$50,000
420
7.24%
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
BITCOIN CHARTS & DATA
Bitcoin & Traditional Assets ROI (vs USD)
BTC vs Traditional Assets ROI:
Bitcoin
Gold
S&P 500
1 year:
+159%
+33%
+30%
2 year:
+509%
+52%
+47%
3 year:
+69%
+48%
+26%
4 year:
+429%
+42%
+65%
5 year:
+1,263%
+82%
+89%
6 year:
+2,310%
+117%
+124%
7 year:
+1,100%
+106%
+127%
8 year:
+12,969%
+125%
+167%
9 year:
+29,892%
+148%
+183%
10 year:
+26,011%
+122%
+186%
11 year:
+11,886%
+114%
+228%
12 year:
+784,854%
+54%
+322%
13 year:
+4.0 million%
+57%
+410%
14 year:
+35 million%
+93%
+396%
https://casebitcoin.com
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.
Bitcoin & Traditional Assets CAGR
BTC vs Traditional Assets CAGR:
Bitcoin
Gold
S&P 500
1 year:
+159%
+33%
+30%
2 year:
+147%
+23%
+21%
3 year:
+19%
+14%
+8%
4 year:
+52%
+9%
+13%
5 year:
+69%
+13%
+14%
6 year:
+70%
+14%
+14%
7 year:
+43%
+11%
+12%
8 year:
+84%
+11%
+13%
9 year:
+88%
+11%
+12%
10 year:
+74%
+8%
+11%
11 year:
+55%
+7%
+11%
12 year:
+111%
+4%
+13%
13 year:
+126%
+4%
+13%
14 year:
+149%
+5%
+12%
https://casebitcoin.com
Data Source: Messari.io, bitcoincharts.com
What is it: This shows bitcoin's Compound Annual Growth Rate (CAGR) vs other assets over various timeframes. For example this is showing that bitcoin has returned 155% on average, every year, for the past 5 years, while gold has returned 7% on average each year over the same period.
Why it matters: As with the historical bitcoin price table, we see bitcoin's extreme outperformance vs other assets here as well. These CAGR numbers solidify bitcoin's status as the best performing financial asset in history.
Bitcoin Price Closing History by Level
Days Bitcoin Closed Above:
Price
Days Above
% of Bitcoin's Life
$100,000
0
0
$97,382
0
0
$90,000
6
0.10%
$80,000
11
0.19%
$50,000
420
7.24%
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.
Bitcoin Marketcap Closing History by Level
Days Bitcoin Marketcap Closed Above:
Mcap
Days Above
% of Bitcoin's Life
$2.00T
0
0
$1.84T
0
0
$1.50T
11
0.19%
$1.00T
383
6.60%
$500B
1099
18.95%
$300B
1457
25.12%
Data Sources: coinmetrics.io, bitcoincharts.com
What is it: This the number of days in which bitcoin "closed" (trading level at midnight UTC) above various marketcap levels.
Why it matters: This can give a sense of where bitcoin is currently trading relative to past cycles.
ROI Chart - 2-year
By Timeframe
By BTC Halving Epoch
Since Key Dates
--- Bitcoin
--- Gold
--- S&P 500
--- Long US Bonds (TLT)
Loading stores-of-value ROI chart...
Data Source: CaseBitcoin.com
What is it: This tracks Bitcoin's ROI against other major assets, across many timeframes of interest.
Why it matters: This chart - on nearly any timeframe - puts the magnitude of bitcoin's out-performance into sharp perspective.
Sharpe Ratio,
Investment Timeframe
--- Bitcoin
--- Gold
--- S&P 500
--- Long US Bonds (TLT)
Data Source: CaseBitcoin.com
What is it: Sharpe ratios are a measure of risk-adjusted (really volatility-adjusted) returns. It is a way to measure how much return an investment generated for the risk (volatility) endured over some time horizon. This chart tracks the sharpe-ratios of BTC vs other assets, across various investment-time horizons. For example, if you select the "5 year" option, at every date, the chart is showing the sharpe-ratio value for holding the asset over the prior 5 years. For risk-free-rate, this is using the average of the 30-day US treasury-bill over every holding period window.
Why it matters: Bitcoin has famously high returns over most multi-year periods of its life, but also famously high price volatility. Thus it's reasonable to ask if the returns were 'worth it' given the high volatility bitcoin-holders endured. Sharpe ratio is a common way to measure how much return an investment generated for the amount of risk (volatility) taken, thus we can use it to look at the risk/reward ratios for BTC vs other asset classes. The sharpe ratio calculation has some caveats (eg, it assumes returns are normally distributed), but it is nevertheless a popular way to compare investments on a risk-adjusted basis. We can see from this chart that bitcoin's returns, over longer holding periods especially, generally fully compensate for the volatility. BTC has a notably higher sharpe-ratio most of the time for multi-year holding periods.
Sortino Ratio, 5-year Investment
Investment Timeframe
--- Bitcoin
--- Gold
--- S&P 500
--- Long US Bonds (TLT)
Loading Sortino chart...
Data Source: CaseBitcoin.com
What is it: Sortino ratio is a measure very similar to Sharpe ratio, but without penalizing the asset's score for upward volatility. Whereas Sharpe ratio measures the asset's performance against some benchmark per unit of bi-directional volatility, Sortino measures per unit of *downside* volaility only. This can provide a more real-world indication of the asset's desireabiliy, since most investors are primarily concerned with downside moves, as far as 'risk' goes.
Why it matters: Bitcoin has famously high returns over most multi-year periods of its life, but also famously high price volatility. Thus it's reasonable to ask if the returns were 'worth it' given the high volatility bitcoin-holders endured. Sortino ratio is a way to measure how much return an investment generated for the amount of downside-volatility endured, thus we can use it to look at the risk/reward ratios for BTC vs other asset classes. The sortino ratio calculation has some caveats (eg, it assumes returns are normally distributed), but it is nevertheless a popular way to compare investments on a risk-adjusted basis. We can see from this chart that bitcoin's returns, over longer holding periods especially, generally fully compensate for the volatility. BTC has a notably higher sortino-ratio most of the time for multi-year holding periods.
Bitcoin Price - Full History
Loading full bitcoin price chart...
Data Sources: Messari.io, bitcoincharts.com, anonymous
What is it: This chart shows the full price history of bitcoin, going back to the first logged peer-to-peer trades in 2009. More robust data starts in July 2010, when the (now defunct) MtGox exchange launched. Changing the time-range shown on the chart will show various stats for the range selected below.
Why it matters: Understanding bitcoin's full price history can give a better sense of how it trades; ie, the process of monetizing an asset from 0 over a decade, and potentially where it sits currently relative to past cycles.
Bitcoin Price - Doubling Time
Loading doubling time chart...
Data Sources: Messari.io, bitcoincharts.com
What is it: This chart shows how long it has taken bitcoin's price to double (blue line), at any given point in time. BTC's price is also shown for reference (orange).
Why it matters: It's clearly visible from this chart how price peaks coincide with very short doubling-times. For example, at the Dec 2017 peak, it had taken price only 16 days to double. Note that these calculations are using daily volume-weighted-average prices from multiple exchanges (using candle data from individual exchanges would likely show even shorter doubling times due to price wicks).
Daily Active Addresses
Data Source: Coinmetrics.io
What is it: This tracks how many unique bitcoin sending and receiving addresses are active on the bitcoin network over a 24hr period.
Why it matters: Address activity is one of the better on-chain measures available that roughly tracks number of people & institutions using the bitcoin network.
Settlement Volume (24hr)
Data Source: Coinmetrics.io
What is it: This tracks how much value is being transacted on the bitcoin network over a 24hr period. Note: this adjusts for effects of "change" transactions; nominal tx vol figures are higher, but this series better captures real economic activity.
Why it matters: Bitcoin is increasingly viewed as a base-layer settlement network. It can be loosly compared to other settlement networks such as FedWire and Swift, or potentially payment networks such as Visa and Paypal.
Hashrate (Th/s)
Data Source: Coinmetrics.io
What is it: This is an estimate of how much computing power bitcoin miners are applying to secure the bitcoin network. Note that hashrate is not directly measurable - this data must be inferred from observing bitcoin block times and network difficulty level. It is therefore noisy over short periods (days), but accurate over longer periods (months).
Why it matters: Hashrate and price and strongly correlated as expected (higher price incentivizes miners to add capacity, and vice versa), but these data provide a rough look at how much energy miners are spending on bitcoin network security, and further, it can be suggestive of miner sentiment.
Bitcoin Price & ROI on this Date
Bitcoin Price & ROI on this Date:
Date
Price
ROI to Today
Nov 21, 2023
$36,694
+165%
Nov 21, 2022
$16,007
+508%
Nov 21, 2021
$59,267
+64%
Nov 21, 2020
$18,677
+421%
Nov 21, 2019
$7,789
+1,150%
Nov 21, 2018
$4,445
+2,091%
Nov 21, 2017
$8,131
+1,098%
Nov 21, 2016
$734
+13,176%
Nov 21, 2015
$325
+29,895%
Nov 21, 2014
$352
+27,583%
Nov 21, 2013
$659
+14,678%
Nov 21, 2012
$12
+830,944%
Nov 21, 2011
$2
+4,365,909%
Nov 21, 2010
$0.28
+35,084,643%
Data Sources: Messari.io, bitcoincharts.com
What is it: This shows bitcoin's price and ROI on this day of the year, going back to the first year for which trading data exists.
Why it matters: Bitcoin's price growth is (probably) unique in financial asset history. The tremendous growth represents an asset getting monetized from 0 to global relevance in a short amount of time.
Real Rate (10yr)
Loading real rate chart...
Data Source: CaseBitcoin.com
What is it: This is rate of return, after inflation, currently provided by benchmark 10-year debt instruments. It is calculated by taking the yield on the 10yr UST and subtracting the 10yr inflation breakeven rate (which is a market-based measure of future expected inflation).
Why it matters: The real rate is what matters in terms of future expected purchasing power, and therefore how attractive "safe" assets like governments bonds are relative to riskier assets. Generally speaking, rising real returns on US bonds will put pressure on stocks and other risk assets, and vice versa.
10yr US Treasury Bond Yield
Loading 10yr UST chart...
Data Source: St Louis Fed
What is it: This is the yield on the US 10-year Treasury Bond.
Why it matters: The 10yr UST yield is a common interest rate benchmark.
10yr Breakeven Inflation Rate
Loading 10yr breakevens chart...
Data Source: St Louis Fed
What is it: This is the difference in the yield between the 10yr US Treasury and the 10yr inflation-indexed bond (TIPS).
Why it matters: Breakeven inflation rates measure market-expectations of inflation. By looking at the yields on inflation-indexed bonds, vs yields on nominal bonds of the same maturity, we can see what inflation expectations the market is assuming over that period.
Bitcoin Whitepaper Word Cloud
Data Source: Bitcoin Whitepaper
What is it: This shows the relative frequency of words occuring in the bitcoin whitepaper.
Why it matters: This view is a novelty, but shows the kinds of concepts that take precedence in the bitcoin system at a conceptual level.
Federal Reserve Act Word Cloud
Data Sources: federalreserve.gov
What is it: This shows the relative frequency of words occuring in the Federal Reserve Act.
Why it matters: This view is a novelty, but shows the kinds of concepts that take precedence in the federal reserve system at a conceptual level.