Pompliano Explains Why BTC Is Still a Perfect Monetary System
- BTC’s total supply in profit held by short-term holders continued to test historical lows throughout the past week.
- BTC is drastically outperforming gold, the S&P500, and NASDAQ.
- BTC is currently worth $27,574.07 after a 4.59% drop in price over the last 24 hours.
Anthony Pompliano shared a video on June 11 about what happened in the Bitcoin (BTC) markets and why it is still the perfect monetary system.
BTC’s total supply in profit held by short-term holders continued to test historical lows throughout the past week. BTC’s hash price indicates that miners are shorting the hash rate, shorting the difficulty and longing the BTC price.
With regards to BTC being the perfect monetary system, the American investor specifically mentioned the ROI of traditional assets.
When looking at the 1-year values, BTC and the traditional markets are very similar, but when comparing it to longer time periods, BTC outperforms the traditional market by far.
BTC has also only traded at its current level for just over 500 days of its lifetime. This means that 89% of the time if you bought BTC, you would be up in terms of US dollar value.
When looking at BTC’s CAGR, it is currently just below 135%. This means that the crypto is drastically outperforming gold, the S&P500, and NASDAQ.
BTC is currently worth $27,574.07 after a 4.59% drop in price over the last 24 hours, and after reaching a high of $29,145.37 over the same time period, according to CoinMarketCap.
BTC also saw a 6.79% price decrease over the last week.
With regards to market cap, BTC is down 4.80% and stands at $525,678,783,047. The crypto also saw a 24 hour trading volume of $34,904,089,880. This number is up 20.61% over the last day.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.
Read more: https://coinquora.com/pompliano-explains-why-btc-is-still-a-perfect-monetary-system/
Text source: News – CoinQuora – Latest Cryptocurrency and Block
