Bitcoin Marketcap

$1.85T

Gold Marketcap

$16.20T

BTC Settlement Volume (24hr)

$12.90B

BTC Inflation Rate (next 1yr)

1.17%

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KEY MARKETS

24hr change

Bitcoin

$97,595  📈

+$4,030

+4.31%


S&P 500

5,911  📈

+1.30

+0.02%


Gold

$2,665  📈

+$37.16

+1.41%


Silver

$31.23  📈

+$0.28

+0.89%


Euro

$1.0531  📉

-$0

-0.34%


Yen

¥154.19  📉

-¥1.49

-0.96%


Renminbi (CNY)

¥7.2381   

-¥0.01

-0.1%


Oil (WTI)

$69.48  📉

-$0.16

-0.23%


BITCOIN STATS

Bitcoin Marketcap

$1.85T


BTC Inflation Rate (next 1yr)

1.17%


% Supply Issued

90.03%


BTC Settlement Volume (24hr)

$12.90B


Real Exchange Volume (24hr)

$48.59B


Active Addresses

1.02M


Mining Reward Value (24hr)

$89.2M


GBTC Premium

200.86%


MSTR Premium

-80.49%


BTC Down From ATH

-0.99%


BTC Up From Cycle Low

3.11%


RATES & YIELDS

24hr change

UST 3mo

4.62%  📉

-0.01

-0.22%


UST 2yr

4.29%  📉

-0.02

-0.46%


UST 10yr

4.42%  📉

-0.01

-0.23%


UST 30yr

4.61%  📈

+0.01

+0.22%


Fed Funds (EFFR)

4.58%  📈

+0

0%


US 10yr Breakeven Inflation

2.35%  📈

+0.01

+0.43%


Real Rate (10yr)

2.08%  📉

-0.01

-0.48%


RATIOS

24hr change

Gold:BTC (marketcap)

8.78x   

-0.25

-2.8%


M2:BTC (marketcap)

11.50x   

-0.5

-4.13%


BTC:Oil (price)

1,405x   

+61.17

+4.55%


Gold:Oil (price)

38.34x   

+0.49

+1.30%


US GOVERNMENT STATS

30-day change

Federal Reserve Balance Sheet

$6.97T  📉

 

-1.03%


M1 Money Supply

$18.15T  📈

+$33.90B

+0.19%


M2 Money Supply

$21.22T  📈

+$46.30B

+0.22%


BTC ROI

Bitcoin & Traditional Assets ROI (vs USD)

BTC vs Traditional Assets ROI:

 

Bitcoin

Gold

S&P 500

1 year:

+161%

+34%

+30%

2 year:

+507%

+53%

+47%

3 year:

+69%

+48%

+26%

4 year:

+428%

+43%

+65%

5 year:

+1,271%

+82%

+89%

6 year:

+2,304%

+118%

+124%

7 year:

+1,096%

+107%

+127%

8 year:

+12,932%

+126%

+167%

9 year:

+29,808%

+149%

+183%

10 year:

+26,172%

+122%

+186%

11 year:

+11,852%

+115%

+228%

12 year:

+782,654%

+54%

+322%

13 year:

+3.9 million%

+58%

+410%

14 year:

+34 million%

+94%

+396%

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

$100,000

0

0

$97,594

0

0

$90,000

6

0.10%

$80,000

11

0.19%

$50,000

420

7.24%

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

Mass Mutual in Bitcoin for the Long Term - CIO


 

In a blog post on bitcoin and the crypto-economy overall today, Mass Mutual's Chief Investment Officer Tim Corbett explained the 170 year old firm's approach to Bitcoin and digital assets, which can be summed up as "taking the long view".


Mr Corbett explained:

Bitcoin’s unique characteristics—including digital scarcity, known supply growth, transfer characteristics, and hard cap on the total number of tokens—open the possibility that it may serve as a kind of “digital gold,” with the potential for significant price appreciation.


He also pointed out bitcoin's volatility and risk profile, but noted: "In our position as a leading mutual life insurance company, we have the ability to take that long view."


Additionally, Mr Corbett announced that Mass Mutual is launching Flourish Crypto, which he described as "a cryptocurrency investing solution built for Registered Investment Advisors (RIAs) and their clients", significantly raising the profile of bitcoin as an investment asset to the key group of investment advisors.

tldr

  • Mass Mutual added a $100mm BTC position to their general account in Q4 2020, in what was widely considered significant validation of bitcoin as an investable asset
  • Mr. Corbett's focus on the long-term and willingness to look at bitcoin's fundamental properties are key to Mass Mutual supporting BTC
  • Finally, giving RIAs tooling and support for recommending bitcoin/crypto as investments, is an important step for the wider investment advisory world.

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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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