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And what did it say about the "absolute max" only a few months ago?

• headmelted 9y ago
  I think geezerjay meant it as a literal statement of past values rather than speculation on a future price. The absolute maximum value that bitcoin has ever traded at publicly is (I believe) just under $20k USD. His point is that no rational investor would bet the farm on a 3x increase on anything regardless of past values. This is the reason why advertised investments need to include a disclaimer stating that past returns are not an indicator of future success. That all being said - I don't think a bet like this requires someone to be masking a cashout. Not everything has to be a conspiracy. It's far more likely someone is caught up in the hysteria and genuinely believes that Bitcoin will hit that value (which it might, I don't have a crystal ball). "The market can remain irrational longer than you can remain solvent." - John Maynard Keynes
  • PeterisP 9y ago
    Don't pretty much all VC investors bet that the particular company is going to get a 3x+ increase in value? Expecting something like that is a sign of a speculative and risky investment, but there are quite a few asset types that have such expected returns if the result is the returns instead of a bust.