Where are all the predictions and YouTube videos for bitcoin going over $10,000?
How is that any more ridiculous than Apple having a market cap of $700 Billion? in order for one BTC to be worth $10,000, the market cap would only have to be $210B or less (depending on how many bitcoins have been mined when it happens), less than 1/3 of Apple Corp's current value.Well, when you buy some Apple stock, you become owner of a slice of a huge company, that makes 70'000 USD of profit every second, by manufacturing and selling more than 10 million high-quality computers and smatrphones per month, that people literally give a kidney for. Whereas, when you buy a bitcoin....
There is no rational reason why an Apple phone or computer is substantially more desirable than one of it's many competitors. It's simply a preference and preferences change. The desire to own bitcoins (which can be looked at as shares in the Bitcoin network) is also a preference. The demand for Apple products may go down, particularly if they fail to keep innovating at a pace and in a way their customers expect. The demand for bitcoins may go up if innovation in the space makes them more useful.
$700B puts Apple stock at a ludicrous price/earnings ratio reminiscent of the Dotcom bubble before the 2000 crash. There may be no objective way to value bitcoin, but there are objective ways of valuing stocks and by most objective measures, Apple is way overpriced.
Apple stock pays a dividend
And the pe ratio is only 16.8 not bad for a company still growing
What the hell makes you think it's still growing? STEVE JOBS IS DEAD. HE IS NO MORE. HE HAS SHUFFLED OFF HIS MORTLE COIL. HE HAS CEASED TO BE.
