> Yet it takes an extraordinary move of adding ~$2 trillion in market cap for Bitcoin to get there. The risk vs reward in Bitcoin at these levels is like a lot

> Yet it takes an extraordinary move of adding ~$2 trillion in market cap for Bitcoin to get there. The risk vs reward in Bitcoin at these levels is like a lot of absurdly overvalued stocks presently. Bitcoin is not a stock, it's a deflationary asset. There are not just a limited amount of bitcoin, but a constantly decreasing amount and a constantly increasing amount of people wishing to use them. People sounded very much like you at every step of the way, including in the rise to $1,000. "The risk isn't worth it." > Significant inflation isn't coming back anytime soon I mean except in the commodities markets, the housing market, the price of ammo, of course. Unless you believe those are just "bubbles" as well. > We're not going to see a serious wave of inflation this decade now for the same reason we didn't the prior decade. We are seeing inflation, it's just occurring in hard asset classes like real estate. > and nothing is very different today versus the past (except that so far this is a cakewalk compared to the destruction in the past; maybe it'll get a lot worse yet, of course). https://fred.stlouisfed.org/series/M1 https://fred.stlouisfed.org/series/M1 It is worse though.