The Pomp Podcast - Bitcoin's Illiquid Supply Continues To Go Parabolic - BTC On-Chain Analytics #906

Starting point is 00:00:00 what's up everyone this is anthony pompliano most of you know me as pomp you're listening to the pomp podcast simply the best podcast out there now let's kick this thing off in today's episode will clemente couldn't join me for our weekly sit down so instead i just break down all of the charts that he put together i hope that you enjoy this and please bear with me as obviously i'm nowhere near as astute in these metrics as will but i'm doing my best to keep up so before we get into this episode, though, I want to quickly talk about our sponsors. Today's episode is brought to you by Coinbase Wallet, your key to the world of crypto. Crypto isn't made to just buy, sell and hold. With Coinbase Wallet, you can do so much more. Collect more NFTs, earn more with

Starting point is 00:00:43 DeFi and trade more than 4000 tokens. Whether you're looking to play, stake, spend or just explore a trending new protocol, Coinbase Wallet is your key to more. Long time holders already know that wallets are a must have if you want complete control of your crypto. That's why Coinbase Wallet makes self-custody simple while providing the safety and security of the most trusted name in crypto. Visit coinbase.com slash wallet to learn more. Again, that's coinbase.com slash wallet and learn more today. Today's episode is brought to you by Unstoppable Domains. If you're a regular listener of this podcast, I'd bet that the two things are true. First, you're passionate about Web3 and protecting your personal data. And two, you're a human being.

Starting point is 00:01:23 If I'm right, then congratulations, you're entitled to all the benefits of the decentralized web. But here's the catch. As Web3-enabled technology like NFTs, smart contracts, and DAOs dive more elements of our real-world lives online, proving that you're a person without surrendering your personal data becomes exponentially more valuable and exponentially more difficult at the same time. This is why Unstoppable Domains launched Humanity Check. Humanity Check proves that you're, well, you, without revealing any of your personal data. No matter where you go on the web, you'll have total control over which apps you want to share

Starting point is 00:01:57 your data with and which ones you don't. Prefer to be completely clouded and mystique? No worries. Humanity Check is 100% opt-in. If you want to feel alive or at least prove you are, head to UnstoppableDomains.com today and get your NFT domain with Humanity Check. Again, head on over to UnstoppableDomains.com and get your NFT domain with Humanity Check today. Today's episode is brought to you by Arculus. Cryptocurrencies offer boundless potential, but how will you protect your crypto? Arculus is the next generation crypto cold storage wallet that combines the world's strongest security protocols from the Arculus key card with an easy to use Arculus wallet app. With over 20 years of experience developing leading edge

Starting point is 00:02:37 secure payment technologies, Composerve created Arculus to give you the power to protect your financial future. You can buy, store, swap, send and receive your crypto with a simple tap of your Arculus keycard to your mobile device. Your private keys are encrypted on the Arculus keycard and they never leave it. Stay safe from hackers with no cords, no charging, no Bluetooth. The only person accessing your crypto is you. You can buy Arculus on Amazon today. Go check it out and see what all the hype is about. All right, let's get in this episode. I hope you guys enjoyed this one. Anthony Pompliano runs Pomp Investments. All views of him and the guests on his podcast are solely their opinions and do not reflect the opinions of Pomp Investments. You should

Starting point is 00:03:19 not treat any opinion expressed by Pomp or his guests as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his personal opinion. This podcast is for informational purposes only. This week, the Bitcoin conference has taken over Miami, but that doesn't mean that we shouldn't look at exactly what's happening with Bitcoin itself. First, if we start, we can see that Bitcoin is trading just over $43,000. It's continued to hit that $40,000 to $45,000 range over the last couple of weeks. If we then look at the Bitcoin network itself, what we can see is that the inflation rate still sits at 1.77%,

Starting point is 00:03:55 we're just over an $800 billion market cap. The real exchange volume sits at just under $4 billion. The miners have been paid about $40 million over the last 24 hours to continue to secure the Bitcoin network. On top of that, Bitcoin is down 37% from the all-time high. but it's up 30 percent from the local cycle low. If we then go ahead and we take a look at the price, it has traded only 260 days ever above the current price point. That means that for 94 percent of Bitcoin's life, Bitcoin has been trading at a lower value than today. And so if you purchase

Starting point is 00:04:34 Bitcoin and held it to today, you are a happy camper. Then if we go and we look at the compound annual growth rate, what we can see is that Bitcoin's compound annual growth rate over the last 10 years is 148% that destroys gold, the S&P 500, NASDAQ, or TLT. Also, the five-year Sharpe ratio is superior to any of the other assets. Then let's go take a look at Dylan Leclerc. He's got a great tweet here where he explains that Bitcoin is just correlated with QQQ. Over the last 30 days, the two assets traded with a rolling correlation of 0.9. That means that many people in the Bitcoin market treating Bitcoin as a risk asset. As they have traded those tech stocks, they also are trading Bitcoin. The more that those two things trade together, the more

Starting point is 00:05:22 that the Fed's policies are going to matter. Over a long period of time, Bitcoin is a non-correlated asset. But in short stints like this, they tend to get highly correlated. Then if we go and we take a look we have the strong hands accumulating bitcoin at a feverish pace you can see here using the 30-day illiquid supply change the far right it's just going parabolic more and more people going ahead and buying bitcoin and then not selling it over a 30-day period then let's go take a look at who the hell actually owns bitcoin first we can go and we can check out willy woo where he says it's a false narrative that bitcoin is hoarded by a few that's propaganda from the media. There's roughly the same number of Bitcoin whales as billionaires in the world. Whale holdings

Starting point is 00:06:07 continue to distribute evenly, even on track for 12% of supply by 2030. And retail investors are gaining fast. Then he shows us this great chart, which is the Bitcoin supply distribution by participants. And what you can see is that there is massive growth in retail ownership and the whales continue to sell their Bitcoin to that retail audience. Then we can go and we can take a look at will clemente we can see that will also pointing out retail is currently buying at the second highest rate in bitcoin's history looking at retail's holdings most spikes have coincided with macro tops but on several occasions they have bought strategically this spike is the outlier and that's exactly what you need to be paying attention to right now the bitcoin conference

Starting point is 00:06:52 has announcement after announcement after announcement the momentum is real and we can look at these on-chain metrics and we can see what their impact is on the Bitcoin price. Bitcoin continues to hold strong in the face of a dire financial situation for billions of people globally and as there's high inflation and also undisciplined monetary and fiscal policy. Bitcoin has gone up hundreds of percent over the last two years and it continues to look strong based on these fundamentals. I'm excited to see what happens the rest of this year and we will talk more about Bitcoin next week. Thanks so much for listening to today's episode. I really hope you guys enjoyed this one. Make sure you're subscribed on Apple, Spotify, or your favorite podcast player. And if

Starting point is 00:07:32 you're looking to try to transition to get a new job in the Bitcoin or crypto industry, we've got you covered. Head over to palmscryptocourse.com. We've developed a curriculum with the top teams across the industry. It's a three-week intensive training program with over 50 events packed into that three-week time period. Go to pompscryptocourse.com to learn more, and I'll meet you guys for the next episode.

The Pomp Podcast - Bitcoin's Illiquid Supply Continues To Go Parabolic - BTC On-Chain Analytics #906

There aren't comments yet for this episode. Click on any sentence in the transcript to leave a comment.