Bitcoin Marketcap

$739B

Gold Marketcap

$11.01T

BTC Settlement Volume (24hr)

$8.73B

BTC Inflation Rate (next 1yr)

1.79%

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KEY MARKETS

24hr change

Bitcoin

$39,416  πŸ“ˆ

+$1,257

+3.29%


S&P 500

4,400  πŸ“‰

-11.32

-0.26%


Gold

$1,810  πŸ“ˆ

+$2.68

+0.15%


Silver

$25.41  πŸ“‰

-$0.11

-0.42%


Euro

$1.1836  πŸ“‰

-$0

-0.21%


Yen

Β₯109.57  πŸ“ˆ

+Β₯0.50

+0.46%


Renminbi (CNY)

Β₯6.4662   

-Β₯0

-0.06%


Oil (WTI)

$69.16  πŸ“‰

-$1.57

-2.22%


BITCOIN STATS

Bitcoin Marketcap

$739B


BTC Inflation Rate (next 1yr)

1.79%


% Supply Issued

89.40%


BTC Settlement Volume (24hr)

$8.73B


Real Exchange Volume (24hr)

$5.89B


Active Addresses

820,918


Mining Reward Value (24hr)

$36.1M


GBTC Premium

-6.63%


MSTR Premium

47.84%


BTC Down From ATH

39.08%


BTC Up From Cycle Low

34.97%


RATES & YIELDS

24hr change

UST 3mo

0.05%  πŸ“‰

-0.01

-16.67%


UST 2yr

0.17%  πŸ“‰

-0.02

-10.53%


UST 10yr

1.20%  πŸ“‰

-0.04

-3.23%


UST 30yr

1.86%  πŸ“‰

-0.03

-1.59%


Fed Funds (EFFR)

0.10%  πŸ“ˆ

+0.03

+42.86%


US 10yr Breakeven Inflation

2.38%  πŸ“ˆ

+0.01

+0.42%


Real Rate (10yr)

-1.13%  πŸ“ˆ

-0.01

-0.89%


RATIOS

24hr change

Gold:BTC (marketcap)

14.90x   

-0.46

-2.97%


M2:BTC (marketcap)

27.58x   

-0.92

-3.24%


BTC:Oil (price)

569.09x   

+30.32

+5.63%


Gold:Oil (price)

26.18x   

+0.62

+2.44%


US GOVERNMENT STATS

30-day change

Federal Reserve Balance Sheet

$8.22T  πŸ“ˆ

+$143B

+1.77%


M1 Money Supply

$19.27T  πŸ“ˆ

+$46.40B

+0.24%


M2 Money Supply

$20.39T  πŸ“ˆ

+$18.80B

+0.09%


BTC ROI

Bitcoin & Traditional Assets ROI (vs USD)

BTC vs Traditional Assets ROI:

 

Bitcoin

Gold

S&P 500

1 year:

+251%

-11%

+33%

2 year:

+245%

+22%

+53%

3 year:

+463%

+48%

+55%

4 year:

+1,183%

+42%

+78%

5 year:

+6,719%

+35%

+102%

6 year:

+14,013%

+66%

+110%

7 year:

+6,631%

+38%

+129%

8 year:

+40,081%

+41%

+158%

9 year:

+361,997%

+12%

+214%

10 year:

+526,280%

+10%

+267%

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

109

2.37%

$39,415

112

2.44%

$30,000

213

4.64%

$20,000

231

5.03%

$10,000

536

11.66%

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

Bitcoin is the Currency of the Internet

theme image

Since the 1980s, people realized networked digital systems could use a native currency. Specifically, they understood that grafting existing monetary tech onto communications networks was going to be difficult. In fact, when the internet started gaining traction in the mid 1990s, internet-skeptics argued that one reason the internet would fail would be the lack of a native means of payment!

While those predictions didn't pan out, using credit cards and other legacy payment means online has indeed created enormous challenges and costs. Stolen credit card numbers and stolen IDs pertaining to payment credentials are a huge cost on internet commerce. Consumers don't see it directly, but the ~3% fee merchants pay to credit card issuers - which is passed on to consumers in the price of goods - is due largely to fraud issues.

Bitcoin solves this by being a "push" system, vs credit cards' "pull" system. When you use bitcoin online, you "push" the payment to the recipient, vs giving the recipient your secret (eg, a credit card number) and having them "pull" the funds from your account by using the secret.

This fundamental difference vs all other digital payment means, plus bitcoin's open and programmable nature, make it uniquely fit to be the "currency of the internet". Leading technologists such as Marc Andreessen (founder of Netscape) and Jack Dorsey (founder of Twitter and Square) view bitcoin as the internet's native money.