The Bitcoin Representation

[Gem]

Full disclosure and disclaimer: I own Bitcoin and this thread is not for financial advice.

An objective financial analysis of Bitcoin based on accepted economic metrics reveals that Bitcoin's value as an asset is incredibly high. This is verified by analyses conducted by leading investment firms Fidelity, Ark Invest, Grayscale and others who conservatively value 1 Bitcoin at USD100K, at least. I thought these guys are nuts, but I started to do a deep dive into it, and as I went down the crypto rabbit hole, I realised Bitcoin is priceless.

Of course I then bought my Bitcoin.

What follows is my rationale for why 1 Bitcoin is worth not just the already incredible valuation of say 100K, but millions upon millions of dollars to long term hodlers.

On the surface, Bitcoin's asset value comes from the fact that it is scarce - there will only ever be 21M coins; it is transportable - you have an online wallet on your phone; and it can't be confiscated by officials - it is decentalised blockchain ledger code. Those fundamentals make Bitcoin a safe store of value and is how they arrive at over 100K valuation. However, there is something that standard analytics do not account for - and that is what Bitcoin represents. It's representional value is akin to a great work of art such as the Mona Lisa or a Van Gogh, and it is that symbolic status and cultural significance that makes Bitcoin incalculable in dollar terms.

Is there a symbol that captures in itself the essence of the digital age? Think about it. What article of ownership exists now that captures the culture of the digital revolution. What single reference of ownership expresses that feeling, holds the emotion of it... words can not express that captured essence which I yearn so to express.

Bitcoin. Not the 'money of the internet' as it is called, but the encapsulated meaning of the era in its most apt ownable form.

The similarities between Bitcoin and priceless art is uncanny, not in form, but in function. Priceless art begins with the story of the artist - or it is preserved form an ancient era. The 'artist' who created Bitcoin is known only by his username, Satoshi Nakamoto. This so perfectly represents internet culture. The 'real person' remains unknown since we use pseudonyms to protect our identities. This shroud gives Bitcoin an air of mystery, and long into the future people will still be asking 'who was Satoshi Nakamoto?'. He will be remembered (and already is) as a genius because his accomplishment was so truly remarkable; and as a revolutionary who subverted something so fundamental it only exists in realms of ideology. It becomes so apparent as the world transitions to digital currency that Satoshi's legend will be eternalised. Because he is unknown, he will be remembered as myth and the story of the man behind the creation promises to be among history's most compelling.

This is where the intangible value case for Bitcoin lies. It has the most intruiging backstory, it represents an era, it re-conceives money and it revolutionises ideology. It's really something, and since diving down this rabbit hole, I feel as if I own something so spectacular that only the wildest of imaginations could comprehend its intrinsic underlying worth.