Bitcoin Marketcap

$1.25T

Gold Marketcap

$14.12T

BTC Settlement Volume (24hr)

$12.90B

BTC Inflation Rate (next 1yr)

1.17%

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KEY MARKETS

24hr change

Bitcoin

$66,295  📉

-$219.01

-0.33%


S&P 500

5,064  📈

+59.39

+1.19%


Gold

$2,322  📉

-$4.65

-0.2%


Silver

$27.31  📈

+$0.13

+0.49%


Euro

$1.0701  📈

+$0.00

+0.45%


Yen

¥154.81  📉

-¥0.02

-0.01%


Renminbi (CNY)

¥7.2456   

+¥0.00

+0.03%


Oil (WTI)

$83.42  📈

+$1.29

+1.57%


BITCOIN STATS

Bitcoin Marketcap

$1.25T


BTC Inflation Rate (next 1yr)

1.17%


% Supply Issued

90.03%


BTC Settlement Volume (24hr)

$12.90B


Real Exchange Volume (24hr)

$19.25B


Active Addresses

1.02M


Mining Reward Value (24hr)

$60.7M


GBTC Premium

263.07%


MSTR Premium

72.45%


BTC Down From ATH

10.11%


BTC Up From Cycle Low

11.15%


RATES & YIELDS

24hr change

UST 3mo

5.42%  📉

-0.03

-0.55%


UST 2yr

4.97%  📉

-0.01

-0.2%


UST 10yr

4.62%  📉

-0.02

-0.43%


UST 30yr

4.72%  📉

-0.02

-0.42%


Fed Funds (EFFR)

5.33%  📈

+0

0%


US 10yr Breakeven Inflation

2.41%  📈

+0

0%


Real Rate (10yr)

2.21%  📉

-0.02

-0.9%


RATIOS

24hr change

Gold:BTC (marketcap)

11.27x   

+0.01

+0.13%


M2:BTC (marketcap)

16.58x   

+0.05

+0.33%


BTC:Oil (price)

794.71x   

-15.15

-1.87%


Gold:Oil (price)

27.84x   

-0.49

-1.74%


US GOVERNMENT STATS

30-day change

Federal Reserve Balance Sheet

$7.41T  📉

 

-1.45%


M1 Money Supply

$17.94T  📉

 

-0.25%


M2 Money Supply

$20.78T  📈

+$1.80B

+0.01%


BTC ROI

Bitcoin & Traditional Assets ROI (vs USD)

BTC vs Traditional Assets ROI:

 

Bitcoin

Gold

S&P 500

1 year:

+141%

+17%

+22%

2 year:

+68%

+22%

+19%

3 year:

+31%

+31%

+22%

4 year:

+781%

+33%

+79%

5 year:

+1,191%

+81%

+73%

6 year:

+633%

+76%

+92%

7 year:

+5,153%

+84%

+112%

8 year:

+14,145%

+87%

+142%

9 year:

+29,670%

+95%

+140%

10 year:

+14,673%

+79%

+171%

11 year:

+47,223%

+59%

+220%

12 year:

+1.3 million%

+40%

+263%

13 year:

+3.1 million%

+52%

+273%

14 year:

+2.2 billion%

+98%

+326%

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

$70,000

10

0.18%

$66,334

34

0.61%

$60,000

95

1.70%

$50,000

214

3.83%

$40,000

465

8.32%

$30,000

710

12.70%

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

Larry Fink, CEO of Blackrock, Says Bitcoin Could be Relevant


 

Larry Fink, CEO of Blackrock - the world's largest asset manager, with over $7 trillion under management - updated his stance on Bitcoin yesterday, now acknowledging its potential global relevance. In a conversation with Bank of England governor Mark Carney, he said: "Can it evolve into a global market? Possibly." Forbes reports:

Fink, who was answering questions alongside former Bank of England governor Mark Carney, said the level of attention generated by previous BlackRock comments on bitcoin showed how the cryptocurrency has "caught the attention and the imagination of many" who are "fascinated and excited by it." "Can [bitcoin] evolve into a global market," Fink asked. "Possibly. [Bitcoin is] still untested, a pretty small market relative to other markets. You see these big giant moves every day. It’s a thin market."

tldr

  • These mild comments are a far cry from Fink's 2017 take on bitcoin, where he called it "an index of money laundering" (which was never true)
  • Fink's comments yesterday follow Blackrock fixed income CIO Rick Rieder's comments from two weeks ago, where he suggested bitcoin could eat into gold's marketcap.
  • This positive, or at least warming, take from Fink is yet another in the list of large traditional money managers talking publicly and positively about bitcoin, including Stanley Druckenmiller, Bill Miller, Guggenheim Funds, and AllianceBernstein in recent weeks.

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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