Bitcoin Marketcap

$784B

Gold Marketcap

$11.02T

BTC Settlement Volume (24hr)

$4.39B

BTC Inflation Rate (next 1yr)

1.79%

logo CASEBITCOIN making the case for bitcoin every day

KEY MARKETS

24hr change

Bitcoin

$41,775  📈

+$125.71

+0.30%


S&P 500

4,396  📉

-2.8

-0.06%


Gold

$1,813  📈

+$0.14

+0.01%


Silver

$25.47  📈

+$0.00

+0.01%


Euro

$1.1867  📈

+$0.00

0.00%


Yen

¥109.69  📈

+¥0

0%


Renminbi (CNY)

¥6.4615   

+¥0

0%


Oil (WTI)

$73.81  📈

+$0.35

+0.48%


BITCOIN STATS

Bitcoin Marketcap

$784B


BTC Inflation Rate (next 1yr)

1.79%


% Supply Issued

89.39%


BTC Settlement Volume (24hr)

$4.39B


Real Exchange Volume (24hr)

$4.14B


Active Addresses

720,022


Mining Reward Value (24hr)

$38.3M


GBTC Premium

-6.72%


MSTR Premium

39.08%


BTC Down From ATH

35.38%


BTC Up From Cycle Low

42.86%


RATES & YIELDS

24hr change

UST 3mo

0.06%  📈

+0.01

+20.00%


UST 2yr

0.20%  📈

+0

0%


UST 10yr

1.26%  📈

+0.01

+0.80%


UST 30yr

1.90%  📈

+0.01

+0.53%


Fed Funds (EFFR)

0.10%  📈

+0

0%


US 10yr Breakeven Inflation

2.40%  📉

-0.03

-1.23%


Real Rate (10yr)

-1.14%  📉

+0.03

+-2.56%


RATIOS

24hr change

Gold:BTC (marketcap)

14.06x   

-0.04

-0.3%


M2:BTC (marketcap)

25.99x   

-0.12

-0.47%


BTC:Oil (price)

566.12x   

-0.28

-0.05%


Gold:Oil (price)

24.57x   

-0.13

-0.51%


US GOVERNMENT STATS

30-day change

Federal Reserve Balance Sheet

$8.22T  📈

+$143B

+1.77%


M1 Money Supply

$19.27T  📈

+$46.40B

+0.24%


M2 Money Supply

$20.39T  📈

+$18.80B

+0.09%


BTC ROI

Bitcoin & Traditional Assets ROI (vs USD)

BTC vs Traditional Assets ROI:

 

Bitcoin

Gold

S&P 500

1 year:

+260%

-9%

+34%

2 year:

+292%

+25%

+53%

3 year:

+452%

+49%

+55%

4 year:

+1,421%

+42%

+77%

5 year:

+7,467%

+33%

+104%

6 year:

+14,760%

+67%

+109%

7 year:

+7,012%

+40%

+127%

8 year:

+43,550%

+38%

+157%

9 year:

+386,606%

+13%

+219%

10 year:

+416,672%

+10%

+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

73

1.59%

$41,770

101

2.20%

$40,000

109

2.37%

$30,000

210

4.57%

$20,000

228

4.97%

$10,000

533

11.61%

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

CIO of Guggenheim - Scott Minerd - Updates Long Term BTC Target to $400k-$600k


 

Guggenheim Partners ($270B AUM) CIO Scott Minerd updated his potential fundamental valuation target for BTC to "$400,000 to $600,000" yesterday in a CNN interview.


He said:

My view is, we did a lot of fundamental research, and if you consider the supply of bitcoin relative to the supply of gold in the world, and what the total value of gold is, if bitcoin were to go to those kinds of numbers, you’d be talking about $400,000 to $600,000 per bitcoin. Now, I'm not saying we'll ultimately get there, but that's an indication what might be a measure of fair value. That you gives you a lot of room to run.


Mr Minerd went on to strike a more balanced tone, suggesting bitcoin's recent run to just shy of $42,000 could be a speculative bubble which could retrace 50% from those highs. He elaborated:


But then when you consider that over the course of a month, we went from $20,000 to $40,000 on bitcoin, that smacks of short-term speculation. ... So you know bitcoin has had a lot of times where it's had setbacks of 50% form it's highs, I wouldn't be surprised to see that happen again.


However, he ended his comments on bitcoin with a decidedly positive long-term outlook, saying:

But I do want to say one thing, your comment about Elon Musk before we got started, Elon is definitely proven himself to be a visionary, and I think that crypto currency has come into the realm of respectability and will continue to become more and important in the global economy.

tldr

  • Mr. Minerd has made headlines twice recently for 1) his initial $400k price target, and 2) saying that in the short-term BTC could drop to $20,000.
  • Perhaps of some relevance is the fact that Guggenheim's Q4 2020 SEC filing for ability to invest in GBTC took effect as early as this past Sunday (Jan 31).

Are we missing a recent story that makes the case for bitcoin?

Tell us about it!


THE INVESTMENT CASE FOR BITCOIN

All you need to read to understand the investment case for bitcoin.

Bitcoin reminds me of gold when I first got into the business in 1976

- Paul Tudor Jones, Hedge Fund Manager

Frankly, if the gold bet works, the bitcoin bet will probably work better

- Stanley Druckenmiller - hedge fund manager

Bitcoin is a technological tour de force

- Bill Gates, Founder - Microsoft

[people] use [bitcoin] more as an alternative to gold. It’s a speculative store of value.

- Jerome Powell, Federal Reserve Chairman

There are 3 eras of currency: commodity based, politically based, and now, math based.

- Chris Dixon - Tech Investor, A16Z

Bitcoin may be the TCP/IP of money.

- Paul Buchheit - Gmail Creator

If they become widely accepted, virtual currencies could have a substitution effect on central bank money.

- European Central Bank - 2012

Bitcoin is Gold 2.0, a huge, huge deal.

- Chamath Palihapitiya - Founder & CEO Social Capital

I think every major bank, every major investment bank, every major high net worth firm is going to eventually have some exposure to bitcoin or what’s like it

- Bill Miller - Former Chainman & CIO, Legg Mason Capital

Bitcoin is money, everything else is credit.

- JP Morgan - 1912

MOST RECENTLY ADDED

We're adding to the library constantly. These are the newest additions.

MOST HELPFUL

Some pieces really crystalize the case for bitcoin. These are the highest rated from the CaseBitcoin community. 👍

MOST BULLISH

Rated by the CaseBitcoin community as most likely to make you feel bullish. 🚀