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Nominally I'd think it's because they can, theoretically, be exchanged for $1 USD. Practically that's not possible currently (by the sounds of it), but it's the
by tonyarkles 9y ago
Nominally I'd think it's because they can, theoretically, be exchanged for $1 USD. Practically that's not possible currently (by the sounds of it), but it's the same reason people don't go around selling $1 USD bills for $0.90 USD.
- aqme28 9y agoBut that hasn't actually been true since April. Are investors ~100% confident that it will be exchangeable again in the future?
- jgautsch 9y agoPerhaps people aren't rational all the time. https://en.wikipedia.org/wiki/Confirmation_bias#Persistence_of_discredited_beliefs https://en.wikipedia.org/wiki/Confirmation_bias#Persistence_...