Bitcoin Marketcap

$1.89T

Gold Marketcap

$16.30T

BTC Settlement Volume (24hr)

$12.90B

BTC Inflation Rate (next 1yr)

1.17%

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KEY MARKETS

24hr change

Bitcoin

$100,144  📉

-$946.55

-0.94%


S&P 500

6,054  📉

-30.15

-0.5%


Gold

$2,681  📉

-$35.98

-1.32%


Silver

$30.94  📉

-$0.98

-3.07%


Euro

$1.0470  📉

-$0

-0.29%


Yen

¥152.62  📈

+¥0.22

+0.15%


Renminbi (CNY)

¥7.2684   

+¥0.01

+0.08%


Oil (WTI)

$69.91  📉

-$0.44

-0.63%


BITCOIN STATS

Bitcoin Marketcap

$1.89T


BTC Inflation Rate (next 1yr)

1.17%


% Supply Issued

90.03%


BTC Settlement Volume (24hr)

$12.90B


Real Exchange Volume (24hr)

$46.75B


Active Addresses

1.02M


Mining Reward Value (24hr)

$91.6M


GBTC Premium

200.86%


MSTR Premium

-80.49%


BTC Down From ATH

3.47%


BTC Up From Cycle Low

7.96%


RATES & YIELDS

24hr change

UST 3mo

4.38%  📉

-0.03

-0.68%


UST 2yr

4.15%  📈

+0.02

+0.48%


UST 10yr

4.22%  📈

+0.02

+0.48%


UST 30yr

4.41%  📈

+0.02

+0.46%


Fed Funds (EFFR)

4.58%  📈

+0

0%


US 10yr Breakeven Inflation

2.30%  📈

+0.01

+0.44%


Real Rate (10yr)

1.92%  📈

+0.01

+0.52%


RATIOS

24hr change

Gold:BTC (marketcap)

8.61x   

-0.04

-0.44%


M2:BTC (marketcap)

11.25x   

+0.11

+1.00%


BTC:Oil (price)

1,433x   

-5.48

-0.38%


Gold:Oil (price)

38.35x   

-0.27

-0.7%


US GOVERNMENT STATS

30-day change

Federal Reserve Balance Sheet

$6.90T  📉

 

-1.41%


M1 Money Supply

$18.24T  📈

+$86.00B

+0.47%


M2 Money Supply

$21.31T  📈

+$90.00B

+0.42%


BTC ROI

Bitcoin & Traditional Assets ROI (vs USD)

BTC vs Traditional Assets ROI:

 

Bitcoin

Gold

S&P 500

1 year:

+136%

+32%

+28%

2 year:

+462%

+48%

+51%

3 year:

+110%

+51%

+31%

4 year:

+416%

+46%

+64%

5 year:

+1,312%

+81%

+91%

6 year:

+3,033%

+116%

+132%

7 year:

+445%

+114%

+127%

8 year:

+12,769%

+136%

+168%

9 year:

+21,820%

+151%

+194%

10 year:

+29,497%

+124%

+204%

11 year:

+12,776%

+117%

+239%

12 year:

+749,555%

+58%

+326%

13 year:

+3.1 million%

+68%

+399%

14 year:

+41 million%

+95%

+386%

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

$100,143

2

0.03%

$100,000

3

0.05%

$75,000

37

0.64%

$50,000

442

7.59%

$25,000

1150

19.75%

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

Bitcoin's Inflation Rate Drops Below Gold's


 

At 4:02 EDT today bitcoin's 630,000th block was mined, marking a once-every-four-years reduction of the rate at which new coins are issued on bitcoin's blockchain. That rate now works out to 1.85% annualized, which is below both the Federal Reserve's 2% inflation rate target, and most importantly for the up and coming "digital gold", below gold's estimated newly mined annual supply.

story image


Bitcoin's halving is no surprise, as it's been built into the codebase since bitcoin launched in 2009. It is the 3rd halving event in a series of 33 hard-coded halving events which take place automatically, and without human deliberation, through the year 2136. This makes bitcoin the only money system which will credibly and predictably reduce its supply over time.

tldr

  • Bitcoin's inflation rate is now below gold's, and below the Fed's fiat target
  • The 3rd halving event transpired algorithmically, and predictably, just like the two before it, and the 30 to come over the next century.
  • Bitcoin is the only money system to reduce supply credibly and predictably, far into the future, eventually capping out at just shy of 21,000,000 BTC to ever be produced.
  • Combined with the inflation rate threshold just crossed, this makes bitcoin the hardest money system ever devised.

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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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