Charles-Henry Monchau

Chief Investment Officer

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. 

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."

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.

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.

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.

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.

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.

Source: The Kobeissi Letter, SG Cross Asset Research, Factset


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