Bitcoin Marketcap

$1.21T

Gold Marketcap

$14.54T

BTC Settlement Volume (24hr)

$12.90B

BTC Inflation Rate (next 1yr)

1.17%

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KEY MARKETS

24hr change

Bitcoin

$63,771  📉

 

-1.79%


S&P 500

4,957  📉

-45.87

-0.92%


Gold

$2,392  📈

+$10.76

+0.45%


Silver

$28.69  📈

+$0.38

+1.35%


Euro

$1.0667  📈

+$0.00

+0.17%


Yen

¥154.63  📈

+¥0.19

+0.12%


Renminbi (CNY)

¥7.2398   

-¥0

-0.02%


Oil (WTI)

$83.19  📉

-$0.11

-0.13%


BITCOIN STATS

Bitcoin Marketcap

$1.21T


BTC Inflation Rate (next 1yr)

1.17%


% Supply Issued

90.03%


BTC Settlement Volume (24hr)

$12.90B


Real Exchange Volume (24hr)

$23.19B


Active Addresses

1.02M


Mining Reward Value (24hr)

$58.6M


GBTC Premium

293.41%


MSTR Premium

57.39%


BTC Down From ATH

13.29%


BTC Up From Cycle Low

7.22%


RATES & YIELDS

24hr change

UST 3mo

5.46%  📈

+0.01

+0.18%


UST 2yr

4.93%  📉

-0.04

-0.8%


UST 10yr

4.59%  📉

-0.08

-1.71%


UST 30yr

4.71%  📉

-0.06

-1.26%


Fed Funds (EFFR)

5.33%  📈

+0

0%


US 10yr Breakeven Inflation

2.41%  📈

+0.01

+0.42%


Real Rate (10yr)

2.19%  📉

-0.09

-3.95%


RATIOS

24hr change

Gold:BTC (marketcap)

12.06x   

+0.29

+2.43%


M2:BTC (marketcap)

17.23x   

+0.31

+1.84%


BTC:Oil (price)

766.57x   

-14.06

-1.8%


Gold:Oil (price)

28.75x   

+0.11

+0.38%


US GOVERNMENT STATS

30-day change

Federal Reserve Balance Sheet

$7.41T  📉

 

-1.45%


M1 Money Supply

$17.94T  📉

 

-0.25%


M2 Money Supply

$20.78T  📈

+$1.80B

+0.01%


BTC ROI

Bitcoin & Traditional Assets ROI (vs USD)

BTC vs Traditional Assets ROI:

 

Bitcoin

Gold

S&P 500

1 year:

+131%

+20%

+20%

2 year:

+60%

+26%

+12%

3 year:

+21%

+34%

+19%

4 year:

+835%

+39%

+77%

5 year:

+1,099%

+88%

+71%

6 year:

+622%

+80%

+85%

7 year:

+5,075%

+86%

+109%

8 year:

+14,135%

+93%

+137%

9 year:

+27,176%

+102%

+135%

10 year:

+12,775%

+86%

+164%

11 year:

+42,964%

+69%

+214%

12 year:

+1.3 million%

+46%

+261%

13 year:

+4.0 million%

+59%

+271%

14 year:

+2.1 billion%

+108%

+308%

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

$70,000

10

0.18%

$63,771

50

0.90%

$60,000

92

1.65%

$50,000

211

3.78%

$40,000

462

8.27%

$30,000

707

12.66%

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

Niall Ferguson Says 'Bitcoin is Winning the Covid-19 Monetary Revolution'


 

Author of The Ascent of Money and Stanford Fellow, Niall Ferguson, authored a Bloomberg Opinion piece today in which he argues Bitcoin is "scarce, sovereign and a great place for the rich to store their wealth." He elaborates:

What is happening is that Bitcoin is gradually being adopted not so much as means of payment but as a store of value. Not only high-net-worth individuals but also tech companies are investing. In July, Michael Saylor, the billionaire founder of MicroStrategy, directed his company to hold part of its cash reserves in alternative assets. By September, MicroStrategy’s corporate treasury had purchased bitcoins worth $425 million. Square, the San Francisco-based payments company, bought bitcoins worth $50 million last month. PayPal just announced that American users can buy, hold and sell bitcoins in their PayPal wallets.

tldr

  • Ferguson brings a deep understanding of money and monetary history, and it is therefore no surprise he appreciates bitcoin.
  • He correctly observes detractors being forced to back pedal somewhat as bitcoin's continued existence and price action proves their prior views false

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

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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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