Quote:
Originally Posted by Robotic
What is concerning you?
Honestly, I think it’s still early to get into Bitcoin. Institutions are just starting to get in, and the Central Bank of France recently announced they will start to buy and hold Bitcoin. This will create some motivation and FOMO for other governments to start accepting Bitcoin. Similar to how MicroStrategy was the first domino to fall.
I’m more bullish of bitcoin now than I was years ago when it was a fraction of what it is today. Yeah sure you won’t get these 50,000% gains. But there’s still a lot that can happen if you have a long enough time line.
I agree with you, get some skin in the game, and start to go down the Bitcoin rabbit hole. Start with the book “The age of cryptocurrency”. This got me excited and really opened my mind. If you’re into Podcasts I personally like “The what Bitcoin did podcast” and “Bitcoin Rapid-Fire”
If you think cryptocurrencies is going to follow a similar trajectory as the internet, we look like we’re in about year 1994 compared to the internet.
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Thanks, I'll check out those links.
What's concerning me is the valuation of Bitcoin is already much higher than any logical explanation.
I agree with what you're saying about it still have more mainstream adoption and upside, but everything should have a price.
We can use what you're saying to justify any valuation whatsoever and that's the concern.
Even if Bitcoins were $1M each right now, you could still make those arguments about there being more upside to come and say well it will be $1.5M soon.
The actual valuation of it has become irreverent, which I don't understand.