LiveWire

In 2010, you needed 8,557 bitcoins to buy an iPhone 4. In 2020, you just need 0.07 Bitcoins to buy an iPhone 12... 

JP Morgan calculates the total market capitalization for bitcoin is $240bn. While superficially this makes it comparable to the total size of gold ETFs at $210BN, this is erroneous since the bulk of gold as an investment is not in the widely derided "paper gold" class but physical. And indeed, as JPM notes, gold ETFs is not the main way wealth is stored via gold; instead wealth is mostly stored via gold bars and coins the stock of which, excluding those held by central banks, amounts to 42600 tonnes or $2.6tr including gold ETFs. This means that mechanically "the market cap of bitcoin would have to rise 10 times from here to match the total private sector investment to gold via ETFs or bars and coins", and while that may be optimistic (it would send the price of bitcoin to $130,000), even a modest crowding out of gold as an “alternative” currency over the longer term would, according to JPMorgan, imply "doubling or tripling of the bitcoin price from here." - source: www.zerohedge.com 

Almost 2% of Millennials assets are invested in Bitcoin 

Source: The Market Ear, Refinitiv 

Bitcoin is up over 4% this morning, crossing the $12,000 key level and knocking on the door of a 52-week high. A trigger for the move is Paypal which said it will allow users to buy and sell cryptocurrencies in their accounts and use those funds to pay merchants, which gives increased/easier accessibility to bitcoin among Paypal customers. From a longer-term perspective, bitcoin isn't just on the verge of a 52-week high. If it rallies another $400 from here, it would also take out its summer high from 2019 forming a loose cup and handle pattern in the process. While most people think the highs from late 2017 wouldn't be seen for years at the earliest, if the 2019 highs are taken out, the conversation among crypto traders will inevitably shift focus back to those levels - source: Bespoke