Latest news with #NYDIG
Yahoo
6 days ago
- Business
- Yahoo
Bitcoin Pulls Back to $107K, but NYDIG Analysis Suggests Market Far From Overheated
Wednesday morning U.S. hours saw a modest acceleration in crypto's pullback from the recent big move higher, with bitcoin BTC stumbling nearly 2% to just above the $107,000 level. Altcoins fared worse, with XRP XRP, solana SOL and dogecoin DOGE among those sporting declines in the 3%-5% range. Among crypto-related stocks, the bitcoin miners were hardest hit, with MARA Holdings (MARA), Riot Platforms (RIOT) and Hut 8 (HUT) each lower by nearly 10%. Bitcoin treasury companies were also showing sizable losses, led by GameStop (GME), down 11% after announcing the purchase of just over 4,710 bitcoin (or about $500 million at the current price) — to some a rather underwhelming amount considering the company raised $1.3 billion for bitcoin acquisition several weeks ago. Bitcoin's roughly 50% rally from the post-early April bottom to a new record high of $112,000 last week has more than a few market participants suggesting 2021-like signs of froth. Not so fast, said the research team at NYDIG. First off, they note, bitcoin has rallied about 7X from the November 2022 low in the $15,000 area — a nice move for sure, but far behind peak-to-trough moves of 452X in 2013, 112X in 2017 and 20X in 2021. While bitcoin is a far more mature asset today than in the past and even a 20X move might seem a bit steep, the numbers still suggest a decent amount of further upside. The team also looked at Market Value to Realized Value (MVRV), which compares the current total market cap of all bitcoins to their aggregated value based on the last time each coin moved. It's current at 2.4X, far below prior peaks, including 2021's top of 4.0X. "While these are all just rough benchmarks, they suggest there's still meaningful upside potential for bitcoin," concluded NYDIG.
Techday NZ
07-05-2025
- Business
- Techday NZ
Is Bitcoin turning into the ‘new boring' of investing?
Crypto used to be the financial equivalent of a Red Bull‑fuelled roller‑coaster. But here we are - Bitcoin up double‑digits during the last week of April while the Nasdaq shed 10 %, the S&P slipped 8.5 % and even the Dow limped 8 % lower. When the most volatile kid in class suddenly sits quietly at the front row, you have to ask yourself: are we watching Bitcoin grow into a safe‑haven adult? A safe harbour in a soap‑opera Markets run on forward‑looking confidence but right now, Washington is serving up cliff‑hanger after cliff‑hanger: tariff escalations and uncertainty, policy U‑turns and press‑conference plot twists that would make a daytime drama blush. The US dollar has wobbled more than 10 % in a fortnight - gifting the rest of the globe surprise purchasing power. Significantly, when the reserve currency 'sneezes', capital grabs its mask and looks for opportunities that aren't nailed to a single flag. This is why we're seeing: Gold spiking - central banks vacuumed up more than a third of annual supply last year. Blue‑chip Asia‑Pac equities rallying - there is free‑trade optimism in Seoul, Tokyo and Beijing which means this stock is suddenly fashionable again. Bitcoin grinding higher - algorithmic scarcity and neutrality has never looked so comforting. The lesson here is that leadership certainty is optional, but math‑driven scarcity sells itself. Bitcoin vs gold: a question of 'old metal, new metal' Gold has been humanity's crisis blanket for millennia - it is universally recognised, ornamental and immune to software bugs. That deep‑rooted societal acceptance gives the metal a definite head start over Bitcoin and its total market value is still much larger. Gold also cruises at about one‑third of Bitcoin's volatility and carries zero technical risk. Unsurprisingly, central banks remain gold's biggest fans, buying up roughly a third of yearly production. Yet according to NYDIG, "In nearly every other measure…bitcoin has the edge – supply growth, monetary policy, supply cap, as well as its usability stemming from its digital only nature. Even in the areas in which bitcoin is deficient compared to gold, longevity and volatility, those gaps are narrowing over time." Annualised realised volatility has slid to just over 50 %, down from triple digits only a few years ago, while gold's own calm surface is rippling higher and NYDIG notes the volatility ratio between the two assets has already compressed to 3.6 : 1 and expects further convergence. In other words, Bitcoin is maturing, all the while the broader market gets choppier. (The surge of far more speculative altcoins has also made Bitcoin look relatively conservative.) Gold remains the elder statesman - trusted, stable and vault‑friendly - but Bitcoin is the up‑and‑comer - scarcer by design, borderless by nature and increasingly less wild than its reputation suggests. Will portable, programmable scarcity prove the 21st‑century upgrade to an ancient store of value? Boring belongs in every portfolio 'Boring' is portfolio code for decorrelation. In simple terms, you want pieces that zig when everything else zags. Having some of your portfolio allocated to Bitcoin means that you're suddenly holding an asset that doesn't care about Fed rate whispers or election‑season Tweet storms. Institutional 'stealth allocators' now include family offices, endowments and macro funds - adding quiet weight. What's more, whilst the macro narratives shift from growth to protection and real yields turn negative, non‑sovereign stores of value like crypto suddenly become very shiny. The killer combo: scarcity + silence There's a saying: the loudest investors often write the smallest cheques. The deep‑pocket allocators usually operate in stealth and you only learn about their positions two quarters later in a footnote. That silence has been growing louder - pension funds won't livestream their buys, but on‑chain data shows wallets associated with institutional custodians are expanding month after month. If you believe the wisdom of following the quiet money, Bitcoin's 'boring phase' might be your cue to pay attention - precisely because there's a lot less noise. Bottom line is always: discipline > drama Bitcoin isn't done surprising us, but the surprises are starting to tilt positively when everything else is bleeding red. In an age of rolling headlines and fiscal soap operas, an asset with a fixed supply, borderless settlement and maturing volatility feels - dare we say - very responsible and the market might already be voting 'yes'.
Scoop
06-05-2025
- Business
- Scoop
Is Bitcoin Turning Into The ‘New Boring' Of Investing?
Press Release – Easy Crypto Photo/Supplied Crypto used to be the financial equivalent of a RedBullfuelled rollercoaster. But here we are – Bitcoin up doubledigits during the last week of April while the Nasdaq shed 10%, the S&P slipped 8.5% and even the … Crypto used to be the financial equivalent of a RedBullfuelled rollercoaster. But here we are – Bitcoin up doubledigits during the last week of April while the Nasdaq shed 10%, the S&P slipped 8.5% and even the Dow limped 8% lower. When the most volatile kid in class suddenly sits quietly at the front row, you have to ask yourself: are we watching Bitcoin grow into a safehaven adult? A safe harbour in a soapopera Markets run on forwardlooking confidence but right now, Washington is serving up cliffhanger after cliffhanger: tariff escalations and uncertainty, policy Uturns and pressconference plot twists that would make a daytime drama blush. The US dollar has wobbled more than 10% in a fortnight – gifting the rest of the globe surprise purchasing power. Significantly, when the reserve currency 'sneezes', capital grabs its mask and looks for opportunities that aren't nailed to a single flag. This is why we're seeing: Gold spiking – central banks vacuumed up more than a third of annual supply last year. Bluechip AsiaPac equities rallying – there is freetrade optimism in Seoul, Tokyo and Beijing which means this stock is suddenly fashionable again. Bitcoin grinding higher – algorithmic scarcity and neutrality has never looked so comforting. The lesson here is that leadership certainty is optional, but mathdriven scarcity sells itself. Bitcoin vs gold: a question of 'old metal, new metal' Gold has been humanity's crisis blanket for millennia – it is universally recognised, ornamental and immune to software bugs. That deeprooted societal acceptance gives the metal a definite head start over Bitcoin and its total market value is still much larger. Gold also cruises at about onethird of Bitcoin's volatility and carries zero technical risk. Unsurprisingly, central banks remain gold's biggest fans, buying up roughly a third of yearly production. Yet according to NYDIG, 'In nearly every other measure…bitcoin has the edge – supply growth, monetary policy, supply cap, as well as its usability stemming from its digital only nature. Even in the areas in which bitcoin is deficient compared to gold, longevity and volatility, those gaps are narrowing over time.' Annualised realised volatility has slid to just over 50%, down from triple digits only a few years ago, while gold's own calm surface is rippling higher and NYDIG notes the volatility ratio between the two assets has already compressed to 3.6:1 and expects further convergence. In other words, Bitcoin is maturing, all the while the broader market gets choppier. (The surge of far more speculative altcoins has also made Bitcoin look relatively conservative.) Gold remains the elder statesman – trusted, stable and vaultfriendly – but Bitcoin is the upandcomer – scarcer by design, borderless by nature and increasingly less wild than its reputation suggests. Will portable, programmable scarcity prove the 21stcentury upgrade to an ancient store of value? Boring belongs in every portfolio 'Boring' is portfolio code for decorrelation. In simple terms, you want pieces that zig when everything else zags. Having some of your portfolio allocated to Bitcoin means that you're suddenly holding an asset that doesn't care about Fed rate whispers or electionseason Tweet storms. Institutional 'stealth allocators' now include family offices, endowments and macro funds – adding quiet weight. What's more, whilst the macro narratives shift from growth to protection and real yields turn negative, nonsovereign stores of value like crypto suddenly become very shiny. The killer combo: scarcity + silence There's a saying: the loudest investors often write the smallest cheques. The deeppocket allocators usually operate in stealth and you only learn about their positions two quarters later in a footnote. That silence has been growing louder – pension funds won't livestream their buys, but onchain data shows wallets associated with institutional custodians are expanding month after month. If you believe the wisdom of following the quiet money, Bitcoin's 'boring phase' might be your cue to pay attention – precisely because there's a lot less noise. Bottom line is always: discipline > drama Bitcoin isn't done surprising us, but the surprises are starting to tilt positively when everything else is bleeding red. In an age of rolling headlines and fiscal soap operas, an asset with a fixed supply, borderless settlement and maturing volatility feels – dare we say – very responsible and the market might already be voting 'yes'.
Scoop
06-05-2025
- Business
- Scoop
Is Bitcoin Turning Into The ‘New Boring' Of Investing?
Crypto used to be the financial equivalent of a RedBullfuelled rollercoaster. But here we are - Bitcoin up doubledigits during the last week of April while the Nasdaq shed 10%, the S&P slipped 8.5% and even the Dow limped 8% lower. When the most volatile kid in class suddenly sits quietly at the front row, you have to ask yourself: are we watching Bitcoin grow into a safehaven adult? A safe harbour in a soapopera Markets run on forwardlooking confidence but right now, Washington is serving up cliffhanger after cliffhanger: tariff escalations and uncertainty, policy Uturns and pressconference plot twists that would make a daytime drama blush. The US dollar has wobbled more than 10% in a fortnight - gifting the rest of the globe surprise purchasing power. Significantly, when the reserve currency 'sneezes', capital grabs its mask and looks for opportunities that aren't nailed to a single flag. This is why we're seeing: Gold spiking - central banks vacuumed up more than a third of annual supply last year. Bluechip AsiaPac equities rallying - there is freetrade optimism in Seoul, Tokyo and Beijing which means this stock is suddenly fashionable again. Bitcoin grinding higher - algorithmic scarcity and neutrality has never looked so comforting. The lesson here is that leadership certainty is optional, but mathdriven scarcity sells itself. Bitcoin vs gold: a question of 'old metal, new metal' Gold has been humanity's crisis blanket for millennia - it is universally recognised, ornamental and immune to software bugs. That deeprooted societal acceptance gives the metal a definite head start over Bitcoin and its total market value is still much larger. Gold also cruises at about onethird of Bitcoin's volatility and carries zero technical risk. Unsurprisingly, central banks remain gold's biggest fans, buying up roughly a third of yearly production. Yet according to NYDIG, 'In nearly every other measure…bitcoin has the edge – supply growth, monetary policy, supply cap, as well as its usability stemming from its digital only nature. Even in the areas in which bitcoin is deficient compared to gold, longevity and volatility, those gaps are narrowing over time.' Annualised realised volatility has slid to just over 50%, down from triple digits only a few years ago, while gold's own calm surface is rippling higher and NYDIG notes the volatility ratio between the two assets has already compressed to 3.6:1 and expects further convergence. In other words, Bitcoin is maturing, all the while the broader market gets choppier. (The surge of far more speculative altcoins has also made Bitcoin look relatively conservative.) Gold remains the elder statesman - trusted, stable and vaultfriendly - but Bitcoin is the upandcomer - scarcer by design, borderless by nature and increasingly less wild than its reputation suggests. Will portable, programmable scarcity prove the 21stcentury upgrade to an ancient store of value? Boring belongs in every portfolio 'Boring' is portfolio code for decorrelation. In simple terms, you want pieces that zig when everything else zags. Having some of your portfolio allocated to Bitcoin means that you're suddenly holding an asset that doesn't care about Fed rate whispers or electionseason Tweet storms. Institutional 'stealth allocators' now include family offices, endowments and macro funds - adding quiet weight. What's more, whilst the macro narratives shift from growth to protection and real yields turn negative, nonsovereign stores of value like crypto suddenly become very shiny. The killer combo: scarcity + silence There's a saying: the loudest investors often write the smallest cheques. The deeppocket allocators usually operate in stealth and you only learn about their positions two quarters later in a footnote. That silence has been growing louder - pension funds won't livestream their buys, but onchain data shows wallets associated with institutional custodians are expanding month after month. If you believe the wisdom of following the quiet money, Bitcoin's 'boring phase' might be your cue to pay attention - precisely because there's a lot less noise. Bottom line is always: discipline > drama Bitcoin isn't done surprising us, but the surprises are starting to tilt positively when everything else is bleeding red. In an age of rolling headlines and fiscal soap operas, an asset with a fixed supply, borderless settlement and maturing volatility feels - dare we say - very responsible and the market might already be voting 'yes'.
Yahoo
05-05-2025
- Business
- Yahoo
Bitcoin Treasury Firms' 'Dry Powder' Could Push Prices Up Significantly: NYDIG
Bitcoin-holding public companies may be sitting on a powerful market catalyst: untapped issuance capacity that could meaningfully raise bitcoin's (BTC) price, according to new research from NYDIG. In a report published this week, Greg Cipolaro, the firm's global head of research, points to the 'dry powder' in the form of share issuance potential among bitcoin treasury companies. If these companies take advantage of their elevated equity valuations to raise new funds and buy more bitcoin, it could trigger a significant upward move in the market. Cipolaro uses a back-of-the-envelope model to estimate the impact: applying a 10x 'money multiplier' — a historical rule of thumb describing how capital inflows have historically influenced bitcoin's market cap — he projects a potential $42,000 per-coin price increase. That would mark a roughly 44% jump from current levels near $96,000. This market dynamic has gained new urgency following the launch of Twenty One, a bitcoin accumulation vehicle backed by Tether, Bitfinex and Cantor Fitzgerald. Unlike other firms that have folded bitcoin into broader business models, Twenty One exists solely to acquire and hold bitcoin, and has already been seeded with a substantial BTC position. Its SPAC partner, Cantor Equity Partners, has outperformed the S&P 500 by over 347% since the deal was announced. Across the sector, 69 public companies hold around $69.6 billion worth of bitcoin. Cipolaro's analysis suggests that their current stock premiums over net asset value could fund even more purchases — effectively creating a feedback loop, where equity issuance fuels BTC buying, which drives up the value of both the bitcoin and the issuer's shares. 'The implication is clear,' Cipolaro writes. 'This "dry powder" in the form of issuance capacity could have a significant upward effect on bitcoin's price.' Whether or not these companies pull the trigger, the growing interest from institutions and the performance of bitcoin-forward stocks signal a shift in how capital markets approach bitcoin exposure — through balance sheets rather than just ETF flows. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Sign in to access your portfolio
