I've been criticized for constantly saying bitcoin and other cryptos are on a bubble, but just take a look at these numbers. On the left is the market price of a stock meant to track the value of bitcoin. On the right is the intrinsic value of each share (nav or net asset value). As you can see, even when intrinsic value is mapped, people are still buying bitcoin on a premium. What sort of person would think it useful to buy something for double its value. Leave any questions you have about this in the comments. I'm a fan of constructive criticism, but please, leave speculative trash out of the comments.
Dont see any proove here... bitcoin begin to me more known that every other world invest except silver gold... its new for lot of people and begin to be accepted as an invest in bank...
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yes but this shows that people are being incredibly irrational in buying bitcoin for higher values than what its worth. People cannot prove this with bitcoin because it has no intrinsic value, but this has a calculable intrinsic value which is much lower than what it is being sold for. This basically shows the "madness of the crowd."
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What is trading volume on those shares?
I bet, it's quite a poor.
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check it out for yourself. ticker: gbtc :)
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