Eoin Treacy's view -
I think it's easy to lose sight that Bitcoin was never intended as an investment vehicle but rather a digital currency. Hard money advocates should appreciate the cap on the total number. Certainly, until there is a much wider acceptance as a currency and more people own it, there will continue to be extremely high volatility. However, since there is a limit on the total number of bitcoin and more people will want to own some, isn't it natural for it to rise in price? The pace has been astonishing but maybe we are really only in the early stages. By nature, it must go higher IF it is to be an alternative currency whose supply can't be increased (like fiat currencies are)
Thank you for this email which I suspect will be of interest to many subscribers. Once upon a time a unicorn was a fabled animal with quasi-magical properties, today it is a fast-growing company with valuation of $1 billion. Friends used to be people you shared time and experience with, today they are people you show photos of yourself to. A snowflake used to be something that fell from the sky, now it is a pejorative term for sensitive people. A trigger used to be associated with guns, now it is an excuse for histrionics. Miners used to be hardy souls who engaged in back breaking work to extract ore from the earth, today they dust-off and fix computers solving puzzles. There was a time a currency was something you could rely on as a medium of exchange and my how that definition has been stretched.
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