Bitcoin Marketcap

$934B

Gold Marketcap

$10.89T

BTC Settlement Volume (24hr)

$19.05B

BTC Inflation Rate (next 1yr)

1.80%

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KEY MARKETS

24hr change

Bitcoin

$49,975  πŸ“‰

 

-9%


S&P 500

4,132  πŸ“‰

-28.04

-0.67%


Gold

$1,792  πŸ“ˆ

+$6.24

+0.35%


Silver

$26.23  πŸ“‰

-$0.16

-0.62%


Euro

$1.2059  πŸ“ˆ

+$0.00

+0.07%


Yen

Β₯107.83  πŸ“‰

-Β₯0.2

-0.18%


Renminbi (CNY)

Β₯6.4920   

+Β₯0.00

+0.04%


Oil (WTI)

$61.71  πŸ“ˆ

+$0.72

+1.18%


BITCOIN STATS

Bitcoin Marketcap

$934B


BTC Inflation Rate (next 1yr)

1.80%


% Supply Issued

88.99%


BTC Settlement Volume (24hr)

$19.05B


Real Exchange Volume (24hr)

$21.00B


Active Addresses

1.11M


Mining Reward Value (24hr)

$45.8M


GBTC Premium

-15.88%


MSTR Premium

4.08%


BTC Down From ATH

22.47%


BTC Up From Cycle Low

1.86%


RATES & YIELDS

24hr change

UST 3mo

0.03%  πŸ“ˆ

+0

0%


UST 2yr

0.15%  πŸ“‰

-0.01

-6.25%


UST 10yr

1.58%  πŸ“‰

-0.03

-1.86%


UST 30yr

2.27%  πŸ“‰

-0.02

-0.87%


Fed Funds (EFFR)

0.07%  πŸ“ˆ

+0

0%


US 10yr Breakeven Inflation

2.33%  πŸ“ˆ

+0

0%


Real Rate (10yr)

-0.75%  πŸ“ˆ

-0.04

-5.63%


RATIOS

24hr change

Gold:BTC (marketcap)

11.66x   

+1.10

+10.39%


M2:BTC (marketcap)

20.79x   

+1.88

+9.96%


BTC:Oil (price)

809.69x   

-91.33

-10.14%


Gold:Oil (price)

29.00x   

-0.26

-0.89%


US GOVERNMENT STATS

30-day change

Federal Reserve Balance Sheet

$7.82T  πŸ“ˆ

+$101B

+1.31%


M1 Money Supply

$18.41T  πŸ“ˆ

+$292B

+1.61%


M2 Money Supply

$19.41T  πŸ“‰

 

-0.68%


BTC ROI

Bitcoin & Traditional Assets ROI (vs USD)

BTC vs Traditional Assets ROI:

 

Bitcoin

Gold

S&P 500

1 year:

+579%

+2%

+47%

2 year:

+804%

+40%

+41%

3 year:

+434%

+34%

+55%

4 year:

+3,876%

+40%

+74%

5 year:

+10,804%

+44%

+98%

6 year:

+22,155%

+51%

+95%

7 year:

+10,139%

+37%

+121%

8 year:

+35,277%

+23%

+161%

9 year:

+969,400%

+8%

+196%

10 year:

+2,705,437%

+18%

+206%

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

54

1.20%

$49,970

54

1.20%

$40,000

76

1.69%

$30,000

111

2.47%

$20,000

128

2.85%

$10,000

433

9.64%

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

Critique #3: Bitcoin is Too Volatile

<< back to all critiques

critique:  Bitcoin is too volatile to be a useful currency or store-of-value.

rebuttal:  It's true that bitcoin historically has very high trading volatility. This is not a surprise for an asset whose market cap has grown to hundreds of billions of dollars, from 0 a decade ago. Furthermore, bitcoin's volatility *is* decreasing as it matures.

At this intermediate stage, where bitcoin's market cap is significant but still one or more orders of magnitude below where one might expect a mature global store of value to be, thinking of bitcoin as an emerging store of value is helpful. Ultimately, it's possible that once bitcoin achieves more maturity and a higher market cap, it can become a directly useful unit of account and medium of exchange as well.