Bitcoin Marketcap

$1.61T

Gold Marketcap

$18.94T

BTC Settlement Volume (24hr)

$12.90B

BTC Inflation Rate (next 1yr)

1.17%

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KEY MARKETS

24hr change

Bitcoin

$85,370  📈

+$2,898

+3.51%


S&P 500

5,618  📈

+18.13

+0.32%


Gold

$3,115  📉

-$9.3

-0.3%


Silver

$33.70  📉

-$0.4

-1.17%


Euro

$1.0795  📉

-$0

-0.21%


Yen

¥149.80  📉

-¥0.09

-0.06%


Renminbi (CNY)

¥7.2702   

+¥0.01

+0.17%


Oil (WTI)

$71.20  📉

-$0.28

-0.39%


BITCOIN STATS

Bitcoin Marketcap

$1.61T


BTC Inflation Rate (next 1yr)

1.17%


% Supply Issued

90.03%


BTC Settlement Volume (24hr)

$12.90B


Real Exchange Volume (24hr)

$16.88B


Active Addresses

1.02M


Mining Reward Value (24hr)

$78.1M


GBTC Premium

200.86%


MSTR Premium

-80.49%


BTC Down From ATH

21.88%


BTC Up From Cycle Low

11.19%


RATES & YIELDS

24hr change

UST 3mo

4.32%  📉

-0.01

-0.23%


UST 2yr

3.89%  📉

-0.08

-2.02%


UST 10yr

4.27%  📉

-0.11

-2.51%


UST 30yr

4.64%  📉

-0.09

-1.9%


Fed Funds (EFFR)

4.33%  📈

+0

0%


US 10yr Breakeven Inflation

2.38%  📈

+0.01

+0.42%


Real Rate (10yr)

2.00%  📈

+0.02

+1.01%


RATIOS

24hr change

Gold:BTC (marketcap)

11.74x   

-0.44

-3.65%


M2:BTC (marketcap)

13.43x   

-0.47

-3.38%


BTC:Oil (price)

1,199x   

+46.02

+3.99%


Gold:Oil (price)

43.75x   

+0.04

+0.09%


US GOVERNMENT STATS

30-day change

Federal Reserve Balance Sheet

$6.74T  📉

 

-0.38%


M1 Money Supply

$18.53T  📈

+$75.40B

+0.41%


M2 Money Supply

$21.67T  📈

+$110B

+0.51%


BTC ROI

Bitcoin & Traditional Assets ROI (vs USD)

BTC vs Traditional Assets ROI:

 

Bitcoin

Gold

S&P 500

1 year:

+21%

+38%

+8%

2 year:

+201%

+59%

+36%

3 year:

+84%

+64%

+23%

4 year:

+45%

+80%

+40%

5 year:

+1,162%

+90%

+125%

6 year:

+1,626%

+140%

+95%

7 year:

+1,075%

+133%

+115%

8 year:

+7,574%

+149%

+138%

9 year:

+20,232%

+155%

+172%

10 year:

+33,543%

+159%

+172%

11 year:

+18,768%

+141%

+203%

12 year:

+63,945%

+99%

+261%

13 year:

+1.7 million%

+92%

+302%

14 year:

+11 million%

+116%

+322%

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

$90,000

91

1.53%

$85,370

108

1.82%

$80,000

128

2.16%

$70,000

151

2.55%

$60,000

373

6.29%

$50,000

538

9.07%

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

sharpe 5yr

DOUBLING TIME

doubling time

Coinbase Releases Public S1


SEC   -  4 years ago

 

Coinbase released their much-anticipated public S1 today, clearing the way for them to list their stock on public US equity markets, likely in a matter of weeks. Coinbase's listing on public markets is considered a watershed moment for bitcoin and crypto overall. It will likely open in excess of $100B market-cap, based on recent pre-IPO-contract trading figures. Some key insights from the S1 document include Coinbase's "Assets on Platform" figure of $90B, and total verified users figure of 43mm. Note that these figures do not include any 2021 data (during which they likely experienced significant growth). Two twitter threads diving further into the numbers are here and here.


One noteworthy stat from the document highlights the institutionally-driven nature of the current bitcoin rally vs the 2017/18 cycle:

story image

tldr

  • Despite Coinbase being the preferred platform for retail participation in the US, institutional volume is dominating this cycle on Coinbase
  • At first glance, there are no huge surprises in the filing, and it nicely puts hard numbers to observed trends

Submitted by: Eugene Black

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

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