Seeing bitcoin stabilize around $8k for nearly a month, I'm reminded of an off-the-cuff email I wrote to my college buddies back in March 2013.
The upside to BTC is that there is no foreseeable upper bound. There's no p/e ratio, earnings report, etc. It might end up be a bust, and I'm out my original $110. This is plausible... if not likely... but lets look a an extreme case, since that's fun to do - BTC might become an inflation hedge like gold.
Total Bitcoins - currently 10 million
Total Oz of gold in the world 49,766,720
One Bitcoin is 5 times more rare than an oz of gold!
5 * $1600/oz = $8000 per BTC (Ha!, probably not, but don't rule it out!)
So those are the bounds $0 to $8000. We're at $72 right now. I'm going to hold!
Pretty funny to read this now, given the 8k stability. I was pestering them to buy some, and basically got laughed at and ignored. If only I had taken my own advice and not just sat on the little amount that I had at the time.
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