All this week in Miami is Bitcoin week. Vice City has been turned into a crypto hub, with the Miami Beach Convention Center acting as the center of it all. The world’s biggest conference devoted solely to BTC has drawn some of the most brilliant names in finance.
Among the topics, was how to value the first ever cryptocurrency – perhaps one of the most important questions anyone who has ever heard of Bitcoin asks. Here are some of the most important takes overheard during the exclusive industry event.
Jan Van Eck And Valuing Bitcoin
The message is clear here at Bitcoin 2022 Miami: the cryptocurrency is a lot of different things to a lot of different people. It is this all-inclusive design that makes the technology a breakthrough for the world of global finance and a powerful tool for change.
Stories of freedom and equality are abundant. Bitcoin is leveling the playing field for the unbanked. But there will always be added attention paid to anything related to the price per coin of the crypto asset.
Across the many panels, keynotes, and more – several models and methods for assigning a value to Bitcoin were discussed. The most notable panel was led by Jan Van Eck who shared several compelling charts and theories that could be used to put a value on BTC.
The usual suspects were included, albeit with some added information. For example, the модел на проток на залиха which few consider valid at this point still has a 95% positive correlation with Bitcoin price. It might be too soon to count it out with only a 5% non-correlation.
The leading cryptocurrency by market cap also at one point had a 94% positive correlation with Закон на Металфа, or users squared times transactional value. The correlation then broke in early 2018 and only recently has the correlation returned.
Peter Thiel Compares BTC With Traditional Finance
A keynote from Peter Thiel also shed some light into how billionaires and tech entrepreneurs might value the conference’s focal cryptocurrency. Thiel shared several slides each with a circle within a circle to demonstrate the sheer size difference between assets classes when compared to BTC.
When viewed in such a simplistic manner, the Bitcoin is still only a fraction of the $12 trillion of gold’s market cap, and barely a blip compared to $115 trillion in global equities. In another slide, the PayPal co-founder explained that in 1980, both gold and equities had a mere $2.5 trillion market cap – or roughly the same as the total crypto market’s recent peak.
During none of these sessions did any of these investors make any wild price predictions – there was no need to. They all understood this was coming. Thiel alluded to the next “10x” and “100x” being possible, it is only a matter of when.
The third richest man in Mexico, Ricardo Salinas, said it best at the conference to those who are overly concerned about the current price of Bitcoin. “You don’t constantly check the price of your house after you buy it,” he said, recommending that the cryptocurrency is something you buy and then forget about for five to ten years or more.
Bitcoinist @ Bitcoin 2022 Мајами
Bitcoinist ќе биде во Bitcoin 2022 Мајами во Мајами Бич, Флорида од 6-ти до 10-ти април известувајќи во живо од изложбениот под и сродни настани. Проверете го ексклузивното покривање од најголемата светска конференција за БТК овде.
Следете @TonySpilotroBTC на Твитер или придружи се Телеграмот TonyTradesBTC за ексклузивни дневни сознанија за пазарот и едукација за техничка анализаНа Ве молиме запомнете: Содржината е едукативна и не треба да се смета за инвестициски совет.
Избрана слика од iStockPhoto, графикони од TradingView.com
Source: https://bitcoinist.com/bitcoin-2022-how-the-industrys-brightest-minds-value-btc/