Bitcoin Marketcap

$1.24T

Gold Marketcap

$14.16T

BTC Settlement Volume (24hr)

$12.90B

BTC Inflation Rate (next 1yr)

1.17%

logo CASEBITCOIN making the case for bitcoin every day

KEY MARKETS

24hr change

Bitcoin

$65,540  πŸ“ˆ

+$13.01

+0.02%


S&P 500

5,493  πŸ“ˆ

+14.92

+0.27%


Gold

$2,329  πŸ“ˆ

+$7.91

+0.34%


Silver

$29.43  πŸ“ˆ

+$0.01

+0.02%


Euro

$1.0740  πŸ“ˆ

+$0.00

+0.14%


Yen

Β₯157.79  πŸ“‰

-Β₯0.07

-0.04%


Renminbi (CNY)

Β₯7.2564   

+Β₯0.00

+0.01%


Oil (WTI)

$80.59  πŸ“ˆ

+$0.71

+0.89%


BITCOIN STATS

Bitcoin Marketcap

$1.24T


BTC Inflation Rate (next 1yr)

1.17%


% Supply Issued

90.03%


BTC Settlement Volume (24hr)

$12.90B


Real Exchange Volume (24hr)

$21.10B


Active Addresses

1.02M


Mining Reward Value (24hr)

$59.9M


GBTC Premium

290.18%


MSTR Premium

97.30%


BTC Down From ATH

11.21%


BTC Up From Cycle Low

15.84%


RATES & YIELDS

24hr change

UST 3mo

5.52%  πŸ“ˆ

+0.01

+0.18%


UST 2yr

4.67%  πŸ“‰

-0.01

-0.21%


UST 10yr

4.20%  πŸ“‰

-0.04

-0.94%


UST 30yr

4.34%  πŸ“‰

-0.06

-1.36%


Fed Funds (EFFR)

5.33%  πŸ“ˆ

+0

0%


US 10yr Breakeven Inflation

2.22%  πŸ“ˆ

+0.05

+2.30%


Real Rate (10yr)

1.98%  πŸ“‰

-0.09

-4.35%


RATIOS

24hr change

Gold:BTC (marketcap)

11.43x   

+0.04

+0.34%


M2:BTC (marketcap)

16.85x   

+0.01

+0.07%


BTC:Oil (price)

812.83x   

-7.48

-0.91%


Gold:Oil (price)

28.69x   

-0.47

-1.61%


US GOVERNMENT STATS

30-day change

Federal Reserve Balance Sheet

$7.26T  πŸ“‰

 

-0.62%


M1 Money Supply

$17.99T  πŸ“‰

 

-0.06%


M2 Money Supply

$20.87T  πŸ“ˆ

+$26.10B

+0.13%


BTC ROI

Bitcoin & Traditional Assets ROI (vs USD)

BTC vs Traditional Assets ROI:

 

Bitcoin

Gold

S&P 500

1 year:

+124%

+20%

+26%

2 year:

+219%

+27%

+46%

3 year:

+95%

+31%

+30%

4 year:

+602%

+34%

+77%

5 year:

+526%

+67%

+86%

6 year:

+872%

+83%

+99%

7 year:

+2,334%

+87%

+126%

8 year:

+9,337%

+82%

+163%

9 year:

+26,669%

+97%

+159%

10 year:

+10,909%

+77%

+180%

11 year:

+64,831%

+81%

+247%

12 year:

+1.0 million%

+49%

+313%

13 year:

+380,781%

+54%

+331%

14 year:

+1.3 billion%

+88%

+408%

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

$70,000

15

0.27%

$65,539

72

1.28%

$60,000

150

2.66%

$50,000

271

4.80%

$40,000

522

9.25%

$30,000

767

13.59%

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 #7: Bitcoin is a Bubble

<< back to all critiques

critique:  Like tulip-bulbs hundreds of years ago, Bitcoin is a retail mania, and it will collapse.

rebuttal:  Bitcoin has experienced four major cycles of massive 1000%+ appreciation, followed by deep drawdowns of more than 80%. Each cycle has started from a much higher price than the previous one. This is not a characteristic of one-time manias. Bitcoin's price, as well as fundamental adoption numbers, are increasing dramatically over multi-year timeframes.

It is a common refrain from people ignorant of both bitcoin, as well the dutch tulip bubble, to refer to bitcoin as "tulips". The tulip bubble was a one-time event, lasting a couple months at manic prices, and affecting relatively few people. Bitcoin, by sharp contrast, is exhibiting growth characteristics - both in price and adoption metrics - similar to an increasingly dominant tech company or protocol.

Another thrust of this argument centers around the fact that bitcoin has no cash flow (like bonds) or expected cash flow (like stocks), and that therefore it's worthless, or at least massively overvalued. This is essentially the same as the "no intrinsic value" critique, as it ignores fundamental properties that humans demand and therefore assign value.