See Local News
Get Balanced News From Your U.S. State.
See Local News
See all locals

Bitcoin’s fair value is $35,000 — but who’s counting?

Posted on AllSides March 10th, 2024
From The Center

Bitcoin’s BTCUSD surge to an all-time high may not say anything about bitcoin’s reality. In fact, it may be nothing more than random fluctuations above and below the cryptocurrency’s fair value.

I base this on a valuation model that, following Metcalfe’s Law, relates bitcoin’s price to the square of the number of users. The chart below — courtesy of data from Claude Erb, a former commodities portfolio manager at TCW Group — plots bitcoin’s actual price over the past decade along with Erb’s application of Metcalfe’s Law.

Erb in an email reminds us...

Read full story

AllSides Picks

More News about Economy and Jobs from the Left, Center and Right

From the Left

From the Center

From the Right