"Intrinsic value" CANNOT be applied to commodities like #Bitcoin    Intrinsic value is supposed to be a way to calculate the true current value of an asset using variables like dividend streams, discounted cash flows, and residual income. Commodities don't produce any of these, so you can't use intrinsic value to calculate what they're worth. We don't value the food we eat based on the cash flow it provides - we price it based on supply and demand. #Bitcoin    is a commodity. Intrinsic value only applies to stocks, real estate, bonds, etc. It can be completely subjective based on an investor's assumptions for risk-free rates, consumer demand, etc. For example, people say "Apple has intrinsic value" and "Apple isn't a speculative investment because of its cash flows." How do you know people will still want iPhones 30 years from now? Intrinsic value doesn't consider disruptive technology or network effects, because it isn't designed to do so.

Part of the reason why housing is scarce is because we don't have enough labor to build homes Since houses are scarce, they've become a financial asset How many resources the current financial system extract from society (mostly in terms of labor)? #Bitcoin    disrupts the financial industry by eliminating individual human involvement in financial decisions, like deciding interest rates We pay people to predict where the market is going so that they can manipulate people into spending or saving This is essentially what the Federal Reserve's job is! Banks exist to store money, lend money, and give us a way to not have our money stolen via inflation THEY CREATE THE PROBLEM THEN GIVE US A SOLUTION Bitcoin makes it so that the market decides prices and rates for itself On a Bitcoin standard, 90% of the financial industry wouldn't exist The biggest reason for this is that we won't need millions of bank branches and ATMs to store our money! What happens to all those resources when Bitcoin replaces the current financial system or eliminates all redundancies? They will be used to solve more important problems, like building more houses, growing better food, and finding solutions to real problems, because that will be the only way to make money

Blackrock's Bitcoin ETF, IBIT, now holds 274,462 BTC, THE SAME as the last trading day This is the first time IBIT had $0 inflow after 71 straight days of positive numbers Is Bitcoin dead? No I guarantee that most people buying IBIT are retail investors Retail investors don't buy when the price is moving sideways - they base their decisions on emotions If BlackRock clients were institutional investors, they would be buying the dip So that means... 1) We got to 73k WITHOUT most institutional investors even caring 2) Blackrock clients aren't selling... meaning they're holding? How long is their holding period? We'll see what happens over the next few days Until then, enjoy buying Bitcoin at the $60K level and potentially below! This makes me happy because I get to continue buying low

In 30 years A burger and fries will cost $75, A vacation $68,000, And a basic car $198,000 (only $1,400/month with 240 months amortization - a steal!)