Apr 23, 2019 • 4M

Bitcoin fundamentals continue to strengthen

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Anthony Pompliano
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Bitcoin’s price is up almost 50% since the start of 2019. Instead of obsessing over the volatile price movements, it is important to stay focused on the underlying fundamentals of the transaction settlement network.

Here is the current state of Bitcoin’s fundamentals:

There are just under 17,700,000 of the 21,000,000 total Bitcoins in circulation.

The hash rate securing Bitcoin’s network has increased more than 10x over the last two years.

Miners are making almost 3.5x more Bitcoin (in USD value) on a daily basis than they were two years ago.

The cost per transaction has more than doubled in the last two years, but has fallen more than 60% over the last 12 months.

The number of transactions per day on the Bitcoin blockchain have increased over 70% in the last two years and continues to rise over the last 12 months after hitting a local low point in May 2018.

The total number of Bitcoin blockchain wallets has increased over 2.5x in the last two years.

With more computing power securing the network, and more users holding & transacting the scare, decentralized digital currency, it is no surprise that an individual Bitcoin is worth more than 440% today than it was two years ago.

Bitcoin is a highly volatile asset. It is misunderstood by many. But one thing is certain, the digitally native currency continues to strengthen over time. As with anything important in life, the maturation and mass adoption of Bitcoin will take time.

Those that have the patience and discipline to stick around will be rewarded handsomely.


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