Bitcoin Marketcap

$453B

Gold Marketcap

$11.87T

BTC Settlement Volume (24hr)

$12.90B

BTC Inflation Rate (next 1yr)

1.74%

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KEY MARKETS

24hr change

Bitcoin

$23,935  📈

+$851.49

+3.69%


S&P 500

4,139  📈

+75.01

+1.85%


Gold

$1,953  📈

+$27.56

+1.43%


Silver

$24.17  📈

+$0.50

+2.10%


Euro

$1.1016  📈

+$0.02

+1.47%


Yen

¥128.54  📉

-¥1.5

-1.15%


Renminbi (CNY)

¥6.7151   

-¥0.03

-0.5%


Oil (WTI)

$77.10  📉

-$2.04

-2.58%


BITCOIN STATS

Bitcoin Marketcap

$453B


BTC Inflation Rate (next 1yr)

1.74%


% Supply Issued

90.03%


BTC Settlement Volume (24hr)

$12.90B


Real Exchange Volume (24hr)

$7.09B


Active Addresses

1.02M


Mining Reward Value (24hr)

$21.9M


GBTC Premium

-22.46%


MSTR Premium

26.80%


BTC Down From ATH

65.14%


BTC Up From Cycle Low

74.92%


RATES & YIELDS

24hr change

UST 3mo

4.70%  📉

-0.02

-0.42%


UST 2yr

4.25%  📈

+0.06

+1.43%


UST 10yr

3.55%  📈

+0.03

+0.85%


UST 30yr

3.66%  📈

+0.02

+0.55%


Fed Funds (EFFR)

4.33%  📈

+0

0%


US 10yr Breakeven Inflation

2.24%  📉

-0.05

-2.18%


Real Rate (10yr)

1.31%  📈

+0.08

+6.50%


RATIOS

24hr change

Gold:BTC (marketcap)

26.23x   

-0.59

-2.21%


M2:BTC (marketcap)

46.85x   

-1.72

-3.55%


BTC:Oil (price)

310.75x   

+19.29

+6.62%


Gold:Oil (price)

25.35x   

+1.04

+4.26%


US GOVERNMENT STATS

30-day change

Federal Reserve Balance Sheet

$8.47T  📉

 

-0.94%


M1 Money Supply

$19.69T  📉

 

-1.24%


M2 Money Supply

$21.21T  📉

 

-0.68%


BTC ROI

Bitcoin & Traditional Assets ROI (vs USD)

BTC vs Traditional Assets ROI:

 

Bitcoin

Gold

S&P 500

1 year:

-35%

+8%

-8%

2 year:

-31%

+6%

+9%

3 year:

+158%

+24%

+26%

4 year:

+596%

+48%

+52%

5 year:

+166%

+46%

+54%

6 year:

+2,238%

+60%

+80%

7 year:

+6,237%

+70%

+118%

8 year:

+10,431%

+54%

+102%

9 year:

+2,880%

+55%

+136%

10 year:

+116,251%

+17%

+175%

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

$40,000

327

6.36%

$30,000

497

9.67%

$23,934

533

10.37%

$20,000

645

12.54%

$10,000

1061

20.63%

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

WHY BITCOIN, WHY NOW?

Bitcoin is a scarce digital asset with an unchangeable monetary policy. Its rate of inflation is currently under 2% and decreasing, ultimately to zero. Only 21million BTC will ever exist, with ~18.6million in existence today. It is fundamentally independent of the fiat money system, yet is a liquid, globally tradeable asset. BTC is convertible to over 150 national currencies 24/7, and can be self-stored or custodied with 3rd parties, including with qualified custodians. Bitcoin can be traded on venues ranging from peer-to-peer services, to large regulated US institutional brokerages and exchanges.

Bitcoin vs Select Indexes & Assets

Bitcoin's ROI performance, as well as risk-adjusted return, has outperformed most benchmarks over most time-frames.

 

Marketcap

Price

Volume
24hr

Inflation
Next 1yr

Inflation
Next 10yrs

ROI
1yr

CAGR
10yr

Volatility
1yr

Sharpe
1yr

Sharpe
5yr


Bitcoin

$453B

$23,941

$7.09B

1.74%

10.34%

-34.80%

102.57%

0.46

-0.91

0.58


Gold

$11.87T

$1,953

~$4.54B

1.52%

15.18%

8.09%

1.55%

0.09

0.61

0.60


S&P 500

~$34.89T

$4,139

--

--

--

-8.11%

10.65%

0.21

-0.83

0.44


NASDAQ

~$16.57T

$11,921

--

--

--

-15.09%

14.25%

0.27

-1.11

0.45


USTs (TLT)

--

$108.23

--

--

--

-23.16%

-0.70%

0.18

-1.70

-0.24


https://casebitcoin.com

BITCOIN CHARTS & DATA

Bitcoin & Traditional Assets ROI (vs USD)

BTC vs Traditional Assets ROI:

 

Bitcoin

Gold

S&P 500

1 year:

-35%

+8%

-8%

2 year:

-31%

+6%

+9%

3 year:

+158%

+24%

+26%

4 year:

+596%

+48%

+52%

5 year:

+166%

+46%

+54%

6 year:

+2,238%

+60%

+80%

7 year:

+6,237%

+70%

+118%

8 year:

+10,431%

+54%

+102%

9 year:

+2,880%

+55%

+136%

10 year:

+116,251%

+17%

+175%

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.


Bitcoin & Traditional Assets CAGR

BTC vs Traditional Assets CAGR:

 

Bitcoin

Gold

S&P 500

1 year:

-35%

+8%

-8%

2 year:

-17%

+3%

+4%

3 year:

+37%

+8%

+8%

4 year:

+62%

+10%

+11%

5 year:

+22%

+8%

+9%

6 year:

+69%

+8%

+10%

7 year:

+81%

+8%

+12%

8 year:

+79%

+6%

+9%

9 year:

+46%

+5%

+10%

10 year:

+103%

+2%

+11%

Data Source: Messari.io, bitcoincharts.com

What is it: This shows bitcoin's Compound Annual Growth Rate (CAGR) vs other assets over various timeframes. For example this is showing that bitcoin has returned 155% on average, every year, for the past 5 years, while gold has returned 7% on average each year over the same period.

Why it matters: As with the historical bitcoin price table, we see bitcoin's extreme outperformance vs other assets here as well. These CAGR numbers solidify bitcoin's status as the best performing financial asset in history.


LEARN ABOUT 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

Common Critique #7
Bitcoin is a Bubble

Critique:  Like tulip-bulbs hundreds of years ago, Bitcoin is a retail mania, and it will collapse.

Rebuttal:  Bitcoin has experienced four major cycles of massive 1000%+ appreciation, followed by deep drawdowns of more than 80%. Each cycle has started from a much higher price than the previous... more

WHAT MONEY MANAGERS ARE SAYING

paul-tudor-jones

Paul Tudor Jones
Founder, Tudor Investments

“At the end of the day, the best profit-maximizing strategy is to own the fastest horse. Just own the best performer and not get wed to an intellectual side that might leave you weeping in the performance dust because you thought you were smarter than the market. If I am forced to forecast, my bet is it will be Bitcoin. Bitcoin reminds me of gold when I first got in...” more

bill-miller

Bill Miller
Founder, Miller Value Funds

“Some of the great investors of our time, Stanley Druckenmiller, Paul Tudor Jones, are gold bulls. Many people, if they're not gold bulls, they at least believe that it's possible inflation comes back with the Fed gunning the money supply here, and with more fiscal stimulus. I think it's reasonable to own gold. With respect to bitcoin...it's been a great month for bitcoin, but it's also been a great year,...” more

BITCOIN LIBRARY

THE INVESTMENT CASE FOR BITCOIN

All you need to read to understand the investment case for bitcoin.

MOST RECENTLY ADDED

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