Bitcoin Marketcap

$1.22T

Gold Marketcap

$14.25T

BTC Settlement Volume (24hr)

$12.90B

BTC Inflation Rate (next 1yr)

1.17%

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KEY MARKETS

24hr change

Bitcoin

$64,339  📈

+$239.80

+0.37%


S&P 500

5,086  📈

+49.27

+0.98%


Gold

$2,344  📈

+$21.53

+0.93%


Silver

$27.58  📈

+$0.39

+1.42%


Euro

$1.0730  📈

+$0.00

+0.14%


Yen

¥156.79  📈

+¥1.16

+0.74%


Renminbi (CNY)

¥7.2459   

-¥0

-0.02%


Oil (WTI)

$84.13  📈

+$1.14

+1.37%


BITCOIN STATS

Bitcoin Marketcap

$1.22T


BTC Inflation Rate (next 1yr)

1.17%


% Supply Issued

90.03%


BTC Settlement Volume (24hr)

$12.90B


Real Exchange Volume (24hr)

$26.43B


Active Addresses

1.02M


Mining Reward Value (24hr)

$58.8M


GBTC Premium

263.07%


MSTR Premium

65.30%


BTC Down From ATH

12.62%


BTC Up From Cycle Low

8.05%


RATES & YIELDS

24hr change

UST 3mo

5.46%  📈

+0.01

+0.18%


UST 2yr

4.86%  📉

-0.11

-2.21%


UST 10yr

4.61%  📉

-0.01

-0.22%


UST 30yr

4.73%  📈

+0.01

+0.21%


Fed Funds (EFFR)

5.33%  📈

+0

0%


US 10yr Breakeven Inflation

2.42%  📈

+0.01

+0.41%


Real Rate (10yr)

2.20%  📉

-0.01

-0.45%


RATIOS

24hr change

Gold:BTC (marketcap)

11.72x   

+0.07

+0.60%


M2:BTC (marketcap)

17.14x   

-0.03

-0.2%


BTC:Oil (price)

764.40x   

-8.62

-1.11%


Gold:Oil (price)

27.88x   

-0.08

-0.3%


US GOVERNMENT STATS

30-day change

Federal Reserve Balance Sheet

$7.40T  📉

 

-1.1%


M1 Money Supply

$18.00T  📈

+$53.40B

+0.30%


M2 Money Supply

$20.84T  📈

+$57.60B

+0.28%


BTC ROI

Bitcoin & Traditional Assets ROI (vs USD)

BTC vs Traditional Assets ROI:

 

Bitcoin

Gold

S&P 500

1 year:

+122%

+18%

+22%

2 year:

+63%

+24%

+20%

3 year:

+18%

+32%

+21%

4 year:

+728%

+35%

+76%

5 year:

+1,149%

+82%

+73%

6 year:

+606%

+77%

+90%

7 year:

+4,729%

+85%

+113%

8 year:

+14,118%

+86%

+146%

9 year:

+27,790%

+93%

+143%

10 year:

+14,263%

+81%

+171%

11 year:

+45,577%

+59%

+219%

12 year:

+1.3 million%

+41%

+263%

13 year:

+2.0 million%

+51%

+273%

14 year:

+2.1 billion%

+98%

+325%

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%

$64,343

49

0.88%

$60,000

98

1.75%

$50,000

217

3.88%

$40,000

468

8.37%

$30,000

713

12.75%

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

US Regulator Says Banks Can Hold Bitcoin Directly


 

The Office of the Comptroller of the Currency (OCC) formally stated today that nationally chartered banks can hold cryptocurrencies on behalf of their customers. This has been a long-standing regulatory block to banks and other financial institutions being able to provide bitcoin-related services to customers.


Peter Van Valkenburgh at CoinCenter explains:

National banks entering the game expands that competition and may also allow more traditional institutional investors to deal in cryptocurrencies. Several regulated entities are bound by financial regulatory laws to use and only use chartered banks for custodial services, and in a world where chartered banks are not holding crypto that can leave several investors with a defacto ban on large scale participation in crypto markets.

tldr

  • This opens up a whole new tranche of regulated financial services providers (banks) to offering bitcoin-related services
  • Other FIs that rely on regulated banks for custody now have far more options
  • This sends a broader signal that bitcoin is a legitimate asset class (to those who may still have doubts)

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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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