Bitcoin
is incredibly speculative and in my opinion, with the
exception of the block chain technology it uses, has no
real underlying intrinsic value. Some say the same thing
about the US Dollar. However, the US Dollar is backed by
the full faith and credit of the US Treasury and the
governments constitutional right of taxation. The Fed
will eventually come out with a "Fedcoin" and blow up
the bitcoin run. The fed will say that the unregulated
bitcoin market poses to great a risk to the US and
global economy. The market cap of various assets is
listed below - note the small cryptocurrency market in
relationship to other asset classes:
Markets
are significantly overvalued. The 2023 earnings ended up
at $192.43 and the forecast for year end 2024 is
$216.38.
5431
/ 192.43 = 28.2x - this is actual earnings for
2023
5431
/ 216.38 = 25.1x - this is projected earnings for
2024