Just a random thought post. It’s interesting to talk to other investors and hear them talk about what is “expensive.” With bitcoin especially, people often say “well, isn’t $20,000 expensive?” or “WHAT! it’s too expensive!” I’d argue expensive is relative.
Yes. Another way to frame this is that collectibles are being bid up as stores of value. People pay record prices for vintage cars, watches, baseball cards and Bitcoin because they believe these objects will hold their value better than fiat currency.
https://www.businessinsider.com/steve-cohen-collectors-universe-collectables-dan-sundehim-nat-turner-2020-12
Great post dear
Great analogy! It will shut down a lot of, "It's too expensive" conversations
Yes. Another way to frame this is that collectibles are being bid up as stores of value. People pay record prices for vintage cars, watches, baseball cards and Bitcoin because they believe these objects will hold their value better than fiat currency.
Check these "physical NFT" prices... mother of all scarcity https://www.classic-car-auctions.info/record-prices-expensive-car-marques-public-auctions/