Bitcoin Marketcap

$707B

Gold Marketcap

$10.89T

BTC Settlement Volume (24hr)

$11.27B

BTC Inflation Rate (next 1yr)

1.79%

logo CASEBITCOIN making the case for bitcoin every day

KEY MARKETS

24hr change

Bitcoin

$37,740  ๐Ÿ“‰

 

-3.62%


S&P 500

4,228  ๐Ÿ“ˆ

+11.02

+0.26%


Gold

$1,791  ๐Ÿ“‰

-$12.25

-0.68%


Silver

$26.43  ๐Ÿ“‰

-$0.3

-1.13%


Euro

$1.1915  ๐Ÿ“‰

-$0

-0.3%


Yen

ยฅ110.04  ๐Ÿ“‰

-ยฅ0.53

-0.48%


Renminbi (CNY)

ยฅ6.4422   

+ยฅ0.01

+0.21%


Oil (WTI)

$70.61  ๐Ÿ“‰

-$1.38

-1.92%


BITCOIN STATS

Bitcoin Marketcap

$707B


BTC Inflation Rate (next 1yr)

1.79%


% Supply Issued

89.22%


BTC Settlement Volume (24hr)

$11.27B


Real Exchange Volume (24hr)

$7.37B


Active Addresses

865,333


Mining Reward Value (24hr)

$34.6M


GBTC Premium

-11.89%


MSTR Premium

46.38%


BTC Down From ATH

41.50%


BTC Up From Cycle Low

10.31%


RATES & YIELDS

24hr change

UST 3mo

0.04%  ๐Ÿ“ˆ

+0.01

+33.33%


UST 2yr

0.21%  ๐Ÿ“ˆ

+0.05

+31.25%


UST 10yr

1.57%  ๐Ÿ“ˆ

+0.06

+3.97%


UST 30yr

2.20%  ๐Ÿ“ˆ

+0

0%


Fed Funds (EFFR)

0.06%  ๐Ÿ“ˆ

+0

0%


US 10yr Breakeven Inflation

2.27%  ๐Ÿ“‰

-0.05

-2.16%


Real Rate (10yr)

-0.75%  ๐Ÿ“‰

+0.12

+-13.79%


RATIOS

24hr change

Gold:BTC (marketcap)

15.40x   

+0.48

+3.19%


M2:BTC (marketcap)

28.45x   

+1.08

+3.94%


BTC:Oil (price)

534.31x   

-10.4

-1.91%


Gold:Oil (price)

25.36x   

+0.31

+1.24%


US GOVERNMENT STATS

30-day change

Federal Reserve Balance Sheet

$8.06T  ๐Ÿ“ˆ

+$141B

+1.78%


M1 Money Supply

$18.94T  ๐Ÿ“ˆ

+$252B

+1.35%


M2 Money Supply

$20.11T  ๐Ÿ“ˆ

+$212B

+1.07%


BTC ROI

Bitcoin & Traditional Assets ROI (vs USD)

BTC vs Traditional Assets ROI:

 

Bitcoin

Gold

S&P 500

1 year:

+301%

+3%

+36%

2 year:

+301%

+30%

+43%

3 year:

+459%

+40%

+53%

4 year:

+1,378%

+44%

+73%

5 year:

+4,894%

+39%

+104%

6 year:

+15,363%

+49%

+100%

7 year:

+6,309%

+36%

+115%

8 year:

+36,158%

+36%

+166%

9 year:

+565,439%

+11%

+212%

10 year:

+222,440%

+16%

+229%

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

105

2.31%

$37,750

119

2.62%

$30,000

167

3.67%

$20,000

184

4.05%

$10,000

489

10.75%

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

THE BITCOIN LIBRARY

6 May 2020 | Paul Tudor Jones | Price when published: $9,089 (ROI since: +315%)

May 2020 BVI Letter - Macro Outlook

Filed under: topic icon fundamentals  medium icon articles

Paul Tudor Jones lays out the case for bitcoin. First describing where the world sits from a macro-economic perspective, PTJ takes us through he and his firm's process of arriving at the specific trades to position for the world we're now in. He concludes that bitcoin has by far the best expected-value against all other assets which can meaningfully serve as a store of value in an inflationary economic regime.

EXCERPT

"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."

"What was surprising to me was not that Bitcoin came in last, but that it scored as high as it did. Bitcoin had an overall score nearly 60% of that of financial assets but has a market cap that is 1/1200th of that. It scores 66% of gold as a store of value, but has a market cap that is 1/60th of goldโ€™s outstanding value. Something appears wrong here and my guess is it is the price of Bitcoin"

"Bitcoin reminds me of gold when I first got in the business in 1976."


Read in Full

What do you think of this piece?


MORE FROM FUNDAMENTALS

OTHER CONTENT