--- title: "Bitcoin: the cryptocurrency of the year" description: Bitcoin rings the bell at $100,000 and continues to deliver massive ETF inflows, while global debt hits a new high. 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If you made a mistake, please change here USA Country Switzerland Canada: Other than Ontario, Quebec, Alberta Canada: Ontario, Quebec or Alberta USA Other country Language Language English French German Italian I confirm Legal information This marketing document has been issued by Bank Syz Ltd. It is not intended for distribution to, publication, provision or use by individuals or legal entities that are citizens of or reside in a state, country or jurisdiction in which applicable laws and regulations prohibit its distribution, publication, provision or use. It is not directed to any person or entity to whom it would be illegal to send such marketing material. This document is intended for informational purposes only and should not be construed as an offer, solicitation or recommendation for the subscription, purchase, sale or safekeeping of any security or financial instrument or for the engagement in any other transaction, as the provision of any investment advice or service, or as a contractual document. Nothing in this document constitutes an investment, legal, tax or accounting advice or a representation that any investment or strategy is suitable or appropriate for an investor's particular and individual circumstances, nor does it constitute a personalized investment advice for any investor. This document reflects the information, opinions and comments of Bank Syz Ltd. as of the date of its publication, which are subject to change without notice. The opinions and comments of the authors in this document reflect their current views and may not coincide with those of other Syz Group entities or third parties, which may have reached different conclusions. The market valuations, terms and calculations contained herein are estimates only. The information provided comes from sources deemed reliable, but Bank Syz Ltd. does not guarantee its completeness, accuracy, reliability and actuality. Past performance gives no indication of nor guarantees current or future results. Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. [The week in seven charts](https://blog.syzgroup.com/fast-food-for-thought/tag/the-week-in-seven-charts) ### Bitcoin: the cryptocurrency of the year Bitcoin rings the bell at $100,000 and continues to deliver massive ETF inflows, while global debt hits a new high. Each week, the Syz investment team takes you through the last seven days in seven charts. [![Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/hubfs/charles-2.jpg)](https://blog.syzgroup.com/fast-food-for-thought/author/charles-henry-monchau) [**Charles-Henry Monchau, CFA, CMT, CAIA**](https://blog.syzgroup.com/fast-food-for-thought/author/charles-henry-monchau) Chief Investment Officer **Monday, 12/09/2024** | - [![Pdf](https://blog.syzgroup.com/hubfs/pdf%20(1).png)](file:///C:/Users/awyneken/OneDrive%20-%20Banque%20Syz%20SA/Desktop/Syz-Feature_WeekIn7Charts_241209.pdf) - - - - #### Chart #1 — ## Bitcoin hits the $100,000 mark   The president-elect of the United States celebrated Bitcoin’s historic breakthrough of the $100,000 mark by posting a message on his Truth Social account congratulating Bitcoin holders, and subtly claiming some credit for Bitcoin’s recent surge.  ![](https://blog.syzgroup.com/hs-fs/hubfs/image-png-Dec-09-2024-01-21-38-9240-PM.png?width=940&height=490&name=image-png-Dec-09-2024-01-21-38-9240-PM.png) *Source: Donald Trump on Truth Social* --- #### Chart #2 — ## Bitcoin's annual performance since launch Highly volatile performance, but as Michael Saylor says: "I prefer a volatile appreciating asset over a stable depreciating one." ![](https://blog.syzgroup.com/hs-fs/hubfs/image-png-Dec-09-2024-01-22-29-0416-PM.png?width=640&height=811&name=image-png-Dec-09-2024-01-22-29-0416-PM.png) *Source: Brew Markets* --- #### Chart #3 — ## Bitcoin ETFs continue to record massive inflows   Do you recall the comments that prevailed at the time of the launch of bitcoin spot ETFs back in January? Many observers predicted an initial rush, followed by a rapid decline. The exact opposite is happening, as buying flows are accelerating massively. ![](https://blog.syzgroup.com/hs-fs/hubfs/image-png-Dec-09-2024-01-23-22-5775-PM.png?width=793&height=864&name=image-png-Dec-09-2024-01-23-22-5775-PM.png) *Source: @EricBalchunas, Fred Krueger @dotkrueger* --- #### Chart #4 — ## Bitcoin's market capitalisation accounts for just 0.2% of global assets Here’s the latest update to the chart featured in presentations by Michael Saylor, CEO of MicroStrategy. With Bitcoin trading around $100,000 and a market value of $2 trillion, it represents only a tiny fraction of global assets. ![](https://blog.syzgroup.com/hs-fs/hubfs/image-png-Dec-09-2024-01-24-28-0304-PM.png?width=940&height=528&name=image-png-Dec-09-2024-01-24-28-0304-PM.png) *Source: Jesse Myer (@Croesus\_BTC)* --- #### Chart #5 — ## Global debt reaches a new record Global debt has reached $322.9 trillion this year, marking a new all-time high. Over the past two decades, global debt has tripled. The debt-to-GDP ratio has fallen to 326%, 30 percentage points lower than the 2021 peak, but it remains above the 2019 level. ![](https://blog.syzgroup.com/hs-fs/hubfs/image-png-Dec-09-2024-01-26-15-9888-PM.png?width=825&height=639&name=image-png-Dec-09-2024-01-26-15-9888-PM.png) *Source: Global Markets Investor @GlobalMktObserv* --- #### Chart #6 — ## Cash now represents 30% of Berkshire Hathaway's total assets Berkshire Hathaway’s cash reserves have reached $325 billion, accounting for nearly 30% of the company’s total assets. Such a high allocation to cash has NEVER been seen before. Warren Buffett, Berkshire Hathaway’s CEO, appears to be struggling to find sufficiently attractive investment opportunities. ![](https://blog.syzgroup.com/hs-fs/hubfs/image-png-Dec-09-2024-01-27-27-0830-PM.png?width=801&height=614&name=image-png-Dec-09-2024-01-27-27-0830-PM.png) *Source: Bravos Research*   --- #### Chart #7 — ## The dominance of US equities   The market capitalisation of US equities now represents 74% of the MSCI World Index, a new all-time high. Since the end of the 2008 financial crisis, this percentage has increased by about 25 points. In contrast, Europe’s and Japan’s shares have declined by 15% and 5%, respectively. As a result, the U share of global market capitalisation is now four times greater than that of Europe and Japan combined. This shift comes as the S&P 500 has surged by 450% over the past 15 years, compared to 70% for the Euro Stoxx 50 and 310% for the Nikkei 225. The US stock market has never been this dominant. ![](https://blog.syzgroup.com/hs-fs/hubfs/image-png-Dec-09-2024-01-28-45-9019-PM.png?width=940&height=687&name=image-png-Dec-09-2024-01-28-45-9019-PM.png) *Source: The Kobeissi Letter, SG Cross Asset Research, Factset* --- #### Disclaimer This marketing document has been issued by Bank Syz Ltd. It is not intended for distribution to, publication, provision or use by individuals or legal entities that are citizens of or reside in a state, country or jurisdiction in which applicable laws and regulations prohibit its distribution, publication, provision or use. It is not directed to any person or entity to whom it would be illegal to send such marketing material. This document is intended for informational purposes only and should not be construed as an offer, solicitation or recommendation for the subscription, purchase, sale or safekeeping of any security or financial instrument or for the engagement in any other transaction, as the provision of any investment advice or service, or as a contractual document. Nothing in this document constitutes an investment, legal, tax or accounting advice or a representation that any investment or strategy is suitable or appropriate for an investor's particular and individual circumstances, nor does it constitute a personalized investment advice for any investor. This document reflects the information, opinions and comments of Bank Syz Ltd. as of the date of its publication, which are subject to change without notice. The opinions and comments of the authors in this document reflect their current views and may not coincide with those of other Syz Group entities or third parties, which may have reached different conclusions. The market valuations, terms and calculations contained herein are estimates only. The information provided comes from sources deemed reliable, but Bank Syz Ltd. does not guarantee its completeness, accuracy, reliability and actuality. Past performance gives no indication of nor guarantees current or future results. Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. Read More ## Related Articles [The week in seven charts](https://blog.syzgroup.com/fast-food-for-thought/tag/the-week-in-seven-charts) #### [Four years into the bull market](https://blog.syzgroup.com/fast-food-for-thought/four-years-into-the-bull-market?hsLang=en) Meanwhile, earnings growth, not valuation expansion, is doing the heavy lifting behind the S&P 500’s rally. Each week, the Syz investment team takes you through the last seven days in seven charts. **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/author/charles-henry-monchau?hsLang=en)** | 12/10/2026 [The week in seven charts](https://blog.syzgroup.com/fast-food-for-thought/tag/the-week-in-seven-charts) #### [Is France’s sovereign debt heading towards “junk” territory?](https://blog.syzgroup.com/fast-food-for-thought/is-frances-sovereign-debt-heading-towards-junk-territory?hsLang=en) Meanwhile, what does Anthropic’s $2tn valuation assume about future growth? Each week, the Syz investment team takes you through the last seven days in seven charts. **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/author/charles-henry-monchau?hsLang=en)** | 05/10/2026 [The week in seven charts](https://blog.syzgroup.com/fast-food-for-thought/tag/the-week-in-seven-charts) #### [The 10-year Treasury yield hits a 19-year high](https://blog.syzgroup.com/fast-food-for-thought/the-10-year-treasury-yield-hits-a-19-year-high?hsLang=en) Meanwhile, US earnings growth leaves the rest of the world behind. Each week, the Syz investment team takes you through the last seven days in seven charts. **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/author/charles-henry-monchau?hsLang=en)** | 28/09/2026 ## Straight from the Desk # Syz the moment Live feeds, charts, breaking stories, all day long. 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