OpnState on Nostr: Isn't market cap a completely irrelevant metric for bitcoin? Saying there are ~19M ...
Isn't market cap a completely irrelevant metric for bitcoin? Saying there are ~19M bitcoin made and each is worth 100k for a 1.9tr market cap completely ignores lost coins, available supply and erroneously leads people to believe there is "1.9trn" invested in bitcoin.
The price is a function of available supply and current demand. That's all. I find market cap as a metric completely irrelevant.
Am I wrong?
Published at
2025-02-14 15:46:06Event JSON
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"content": "Isn't market cap a completely irrelevant metric for bitcoin? Saying there are ~19M bitcoin made and each is worth 100k for a 1.9tr market cap completely ignores lost coins, available supply and erroneously leads people to believe there is \"1.9trn\" invested in bitcoin.\n\nThe price is a function of available supply and current demand. That's all. I find market cap as a metric completely irrelevant.\n\nAm I wrong? ",
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