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RE: Michael Saylor: Bitcoin To $10 Million

in LeoFinance8 months ago (edited)

Well said, BTC is the first cryptocurrency to be created just like every product when it's being adopted the first of it's kind usually appreciate more, BTC value is based on raw demand and supply just like the dollar until it gets it's own asset when it truly becomes a medium of exchange.

I do believe the BTC volatile might reduce from what it is, as it's being adopted. Genericlly BTC value will the depend more on how humans use it and view it's relevance, the truth is BTC has an emotional attachment than most cryptocurrency which gives it more of a chance of being a medium which will get it, its own assets like the USD, the store of value you discussed will give rise to this.

BTC is what I like to refer as GOLD, because GOLD has little utility and still it is very cherished over silver with much utility.

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That is all true. People look for fundamentals when it is confidence. If people have confidence in Bitcoin, it will be embraced. The value proposition is certainly long term store of value. If confidence remains, this will likely remain true as prices head higher, reinforcing the confidence.