Bitcoin Marketcap

$365B

Gold Marketcap

$11.01T

BTC Settlement Volume (24hr)

$12.90B

BTC Inflation Rate (next 1yr)

1.76%

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KEY MARKETS

24hr change

Bitcoin

$19,281  📈

+$377.69

+2.00%


S&P 500

3,816  📈

+41.86

+1.11%


Gold

$1,810  📈

+$6.37

+0.35%


Silver

$19.88  📉

-$0.35

-1.71%


Euro

$1.0429  📉

-$0

-0.45%


Yen

¥135.23  📉

-¥0.57

-0.42%


Renminbi (CNY)

¥6.7010   

+¥0.00

+0.02%


Oil (WTI)

$108.49  📈

+$2.94

+2.79%


BITCOIN STATS

Bitcoin Marketcap

$365B


BTC Inflation Rate (next 1yr)

1.76%


% Supply Issued

90.03%


BTC Settlement Volume (24hr)

$12.90B


Real Exchange Volume (24hr)

$5.31B


Active Addresses

1.02M


Mining Reward Value (24hr)

$17.7M


GBTC Premium

-36.52%


MSTR Premium

4.90%


BTC Down From ATH

71.93%


BTC Up From Cycle Low

9.20%


RATES & YIELDS

24hr change

UST 3mo

1.72%  📉

-0.06

-3.37%


UST 2yr

3.06%  📉

-0.04

-1.29%


UST 10yr

3.10%  📉

-0.1

-3.13%


UST 30yr

3.22%  📉

-0.08

-2.42%


Fed Funds (EFFR)

1.58%  📈

+0

0%


US 10yr Breakeven Inflation

2.33%  📉

-0.03

-1.27%


Real Rate (10yr)

0.87%  📈

+0.03

+3.57%


RATIOS

24hr change

Gold:BTC (marketcap)

30.19x   

-0.49

-1.61%


M2:BTC (marketcap)

59.67x   

-1.22

-2.01%


BTC:Oil (price)

177.81x   

-1.21

-0.68%


Gold:Oil (price)

16.69x   

-0.4

-2.37%


US GOVERNMENT STATS

30-day change

Federal Reserve Balance Sheet

$8.91T  📉

 

-0.01%


M1 Money Supply

$20.63T  📈

+$12.40B

+0.06%


M2 Money Supply

$21.75T  📈

+$26.20B

+0.12%


BTC ROI

Bitcoin & Traditional Assets ROI (vs USD)

BTC vs Traditional Assets ROI:

 

Bitcoin

Gold

S&P 500

1 year:

-43%

+2%

-12%

2 year:

+111%

+1%

+23%

3 year:

+81%

+27%

+29%

4 year:

+195%

+45%

+40%

5 year:

+685%

+47%

+57%

6 year:

+2,743%

+36%

+82%

7 year:

+7,476%

+56%

+84%

8 year:

+2,933%

+36%

+93%

9 year:

+24,644%

+47%

+135%

10 year:

+298,464%

+12%

+178%

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

$19,280

557

11.31%

$19,000

564

11.45%

$15,000

614

12.46%

$10,000

859

17.43%

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

sharpe 5yr

DOUBLING TIME

doubling time

Bitwise Launches Publicly Traded Crypto Fund, With 76% Bitcoin Weight


Bitwise Investments   -  Last year

 

Bitwise Investments launched a public-traded crypto index fund, under the ticker $BITW, composed of the top-10 crypto-assets. The index is market-cap weighted, and is currently over 76% Bitcoin.

story image

tldr

  • Publicly tradeable bitcoin products are limited in the US due to SEC's longstanding inability to approve a Bitcoin ETF
  • Lack of vehicles is one reason the Grayscale Bitcoin Trust, $GBTC, is popular, despite its often >25% premium to NAV
  • Microstrategy, $MSTR, has recently become a 'bitcoin trade' of sorts, due to their large treasury allocations to BTC
  • This new Bitwise vehicle provides another publicly-traded Bitcoin proxy given the 76%+ BTC weighting.

Submitted by: Marriner Eccles

Are we missing a recent story that makes the case for bitcoin?

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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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