From the article: If Bitcoin's market capitalization were to match that of gold, it would be worth over $500,000 a coin. This is why some investors are so bullish on Bitcoin.
Perhaps it's more accurate to say that investors are increasingly bearish on the dollar.
That has nothing to do with the dollar. If bitcoin were to match the market cap of gold irrespective of any money printing, it would be $500k a coin. Which is to say that people consider Bitcoin to have properties similar but superior to that of gold.
It’s very arbitrary. Silver or palladium are more similar to gold than Bitcoin, but no one even tries to compare the er... “market caps” of the mined metals to each other.
It would be just as easy to say that Bitcoin had properties similar to Copper and try to back a valuation out of that. Either comparison borders on silly.
agorabinary|5 years ago
krrrh|5 years ago
It would be just as easy to say that Bitcoin had properties similar to Copper and try to back a valuation out of that. Either comparison borders on silly.
unknown|5 years ago
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