I feel that we are talking past each other. The 4 points I mentioned are simply what allow Bitcoin to have value at all. The price spike is obviously because El

I feel that we are talking past each other. The 4 points I mentioned are simply what allow Bitcoin to have value at all. The price spike is obviously because Elon released that Tesla bought 1.5B worth of Bitcoin, but I never said that hype doesn't play a part in Bitcoins price. Depending on how you look at it, you could argue that 'hype' is the only reason BTC is worth anything. People simply want it. When you said: > People are buying into bitcoin now because they see a graph going up and want it to keep going up. It could just as well be shares in a video game retailer. You're absolutely right. People are only going to buy BTC if they think the price will go up, or remain stable, or whatever their goals are with their money. I don't think our opinions are at odds here.