Bitcoin Marketcap

$935B

Gold Marketcap

$10.89T

BTC Settlement Volume (24hr)

$19.05B

BTC Inflation Rate (next 1yr)

1.80%

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KEY MARKETS

24hr change

Bitcoin

$50,099  📉

 

-8.82%


S&P 500

4,132  📉

-28.04

-0.67%


Gold

$1,792  📈

+$10.38

+0.58%


Silver

$26.23  📉

-$0.16

-0.62%


Euro

$1.2059  📈

+$0.00

+0.07%


Yen

¥107.83  📉

-¥0.2

-0.18%


Renminbi (CNY)

¥6.4920   

+¥0.00

+0.04%


Oil (WTI)

$61.71  📈

+$0.72

+1.18%


BITCOIN STATS

Bitcoin Marketcap

$935B


BTC Inflation Rate (next 1yr)

1.80%


% Supply Issued

88.99%


BTC Settlement Volume (24hr)

$19.05B


Real Exchange Volume (24hr)

$20.94B


Active Addresses

1.11M


Mining Reward Value (24hr)

$45.7M


GBTC Premium

-15.88%


MSTR Premium

4.08%


BTC Down From ATH

22.72%


BTC Up From Cycle Low

1.86%


RATES & YIELDS

24hr change

UST 3mo

0.03%  📈

+0

0%


UST 2yr

0.15%  📉

-0.01

-6.25%


UST 10yr

1.58%  📉

-0.03

-1.86%


UST 30yr

2.27%  📉

-0.02

-0.87%


Fed Funds (EFFR)

0.07%  📈

+0

0%


US 10yr Breakeven Inflation

2.33%  📈

+0

0%


Real Rate (10yr)

-0.75%  📈

-0.04

-5.63%


RATIOS

24hr change

Gold:BTC (marketcap)

11.63x   

+1.09

+10.30%


M2:BTC (marketcap)

20.78x   

+1.85

+9.78%


BTC:Oil (price)

809.95x   

-90.49

-10.05%


Gold:Oil (price)

29.01x   

-0.19

-0.66%


US GOVERNMENT STATS

30-day change

Federal Reserve Balance Sheet

$7.82T  📈

+$101B

+1.31%


M1 Money Supply

$18.41T  📈

+$292B

+1.61%


M2 Money Supply

$19.41T  📉

 

-0.68%


BTC ROI

Bitcoin & Traditional Assets ROI (vs USD)

BTC vs Traditional Assets ROI:

 

Bitcoin

Gold

S&P 500

1 year:

+583%

+3%

+47%

2 year:

+809%

+40%

+41%

3 year:

+437%

+35%

+55%

4 year:

+3,898%

+40%

+74%

5 year:

+10,855%

+45%

+98%

6 year:

+22,317%

+51%

+95%

7 year:

+10,213%

+38%

+121%

8 year:

+35,535%

+24%

+161%

9 year:

+976,453%

+8%

+196%

10 year:

+2,718,069%

+18%

+206%

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

$60,000

7

0.16%

$50,017

54

1.20%

$50,000

54

1.20%

$40,000

76

1.69%

$30,000

111

2.47%

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

MicroStrategy Buys 205 More BTC, In 4th Ongoing Treasury Purchase


 

MicroStrategy CEO Michael Saylor tweeted this morning that the company has purchased an additional 205 BTC at an average price of $48,888/BTC.


This marks the 4th incremental BTC purchase that MicroStrategy has made, presumably with free-cash-flow generated by their underlying business.


story image

tldr

  • In total, MicroStrategy has now completed 2 large initial treasury conversions to BTC, 2 large debt offerings where the proceeds were used to buy BTC, and 4 incremental purchases of BTC as part of MicroStrategy's baseline treasury reserve policy.
  • The large purchases made the biggest headlines, but these incremental purchases underscore MicroStrategy's commitment to BTC as a prudent treasury-reserve strategy.

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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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