Bitcoin Marketcap

$1.16T

Gold Marketcap

$10.74T

BTC Settlement Volume (24hr)

$9.89B

BTC Inflation Rate (next 1yr)

1.78%

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KEY MARKETS

24hr change

Bitcoin

$61,301  πŸ“ˆ

+$757.23

+1.25%


S&P 500

4,478  πŸ“ˆ

+11.82

+0.26%


Gold

$1,766  πŸ“ˆ

+$0.26

+0.01%


Silver

$23.21  πŸ“‰

-$0.09

-0.4%


Euro

$1.1612  πŸ“ˆ

+$0.00

+0.11%


Yen

Β₯114.21  πŸ“‰

-Β₯0.06

-0.05%


Renminbi (CNY)

Β₯6.4296   

-Β₯0.01

-0.1%


Oil (WTI)

$82.20  πŸ“‰

-$0.11

-0.13%


BITCOIN STATS

Bitcoin Marketcap

$1.16T


BTC Inflation Rate (next 1yr)

1.78%


% Supply Issued

89.75%


BTC Settlement Volume (24hr)

$9.89B


Real Exchange Volume (24hr)

$12.81B


Active Addresses

937,355


Mining Reward Value (24hr)

$56.2M


GBTC Premium

3.11%


MSTR Premium

13.04%


BTC Down From ATH

5.11%


BTC Up From Cycle Low

109.71%


RATES & YIELDS

24hr change

UST 3mo

0.05%  πŸ“ˆ

+0

0%


UST 2yr

0.36%  πŸ“‰

-0.01

-2.7%


UST 10yr

1.52%  πŸ“‰

-0.04

-2.56%


UST 30yr

2.02%  πŸ“‰

-0.03

-1.46%


Fed Funds (EFFR)

0.08%  πŸ“ˆ

+0

0%


US 10yr Breakeven Inflation

2.56%  πŸ“ˆ

+0.04

+1.59%


Real Rate (10yr)

-1.04%  πŸ“ˆ

+0

0%


RATIOS

24hr change

Gold:BTC (marketcap)

9.29x   

-0.13

-1.34%


M2:BTC (marketcap)

17.99x   

-0.23

-1.26%


BTC:Oil (price)

746.37x   

+10.83

+1.47%


Gold:Oil (price)

21.47x   

+0.01

+0.05%


US GOVERNMENT STATS

30-day change

Federal Reserve Balance Sheet

$8.48T  πŸ“ˆ

+$32.17B

+0.38%


M1 Money Supply

$19.68T  πŸ“ˆ

+$276B

+1.42%


M2 Money Supply

$20.80T  πŸ“ˆ

+$262B

+1.28%


BTC ROI

Bitcoin & Traditional Assets ROI (vs USD)

BTC vs Traditional Assets ROI:

 

Bitcoin

Gold

S&P 500

1 year:

+427%

-7%

+28%

2 year:

+670%

+18%

+50%

3 year:

+858%

+44%

+62%

4 year:

+987%

+37%

+75%

5 year:

+9,664%

+39%

+109%

6 year:

+22,782%

+50%

+121%

7 year:

+15,808%

+41%

+136%

8 year:

+36,741%

+34%

+157%

9 year:

+523,539%

+3%

+212%

10 year:

+2,136,466%

+8%

+265%

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

0

0

$61,317

6

0.13%

$60,000

10

0.21%

$50,000

89

1.91%

$40,000

183

3.92%

$30,000

288

6.17%

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 #5: Bitcoin is Used By Criminals

<< back to all critiques

critique:  Bitcoin is used by drug dealers and money launderers; therefore it is bad.

rebuttal:  Bitcoin has received a lot of press about criminal use, largely due to the novel darkweb marketplaces, such as Silk Road (now defunct), which used bitcoin as a key element early on. Yet, the fraction of total bitcoin transactions associated with illicit activity was never very high, and remains below 1% today. In fact, former CIA Acting Director Micheal Morell produced a report analyzing bitcoin's use in illicit activity and found that it's "significantly overstated", and is likely a far smaller share of the bitcoin economy than illicit activity done via the traditional banking system is vs global GDP.

The novel properties of new technologies often present criminals with opportunities before society more broadly finds use for the novel properties. In bitcoin's case, its uncensorable nature was a boon for darkweb activity. But this is also a key property of bitcoin that gives it its security and settlement assurances, and cuts out the friction and cost of middlemen that's evident in legacy money systems. This property also eliminates enormous classes of fraud - the kind that plagues credit card networks, leads to costly identity theft, and requires Visa and Mastercard to charge merchants ~3% of every transaction just to make consumers whole when fraud inevitably occurs. As with many new technologies, ultimately, the benefits vastly outweigh the downsides.