If bitcoin was a stock, it'd have split 5 times and be worth a few hundred dollars per share, and people would be like, "oh, cool, that company must be doing well" and then invest in Monsanto at $118 per share.
But bitcoin can't split, so the price looks gargantuan. Doesn't change the underlying value, which IMO is either $0 or more than $40k. Time will tell.
Yeah appreciate @journeyoflife
We have a long way to go before that happens.
If bitcoin was a stock, it'd have split 5 times and be worth a few hundred dollars per share, and people would be like, "oh, cool, that company must be doing well" and then invest in Monsanto at $118 per share.
But bitcoin can't split, so the price looks gargantuan. Doesn't change the underlying value, which IMO is either $0 or more than $40k. Time will tell.
Good point about the stock splits. Haven't considered that. Look at the share price of Berkshire Hathaway.