Post
Topic
Board Bitcoin Discussion
Re: Bitcoin Surpasses Tesla, Ranks 11th Globally
by
Tony116
on 27/10/2023, 07:36:56 UTC

1.So what? Market cap doesn't matter to me at all. It's theoretically possible for the BTC price to grow, but the BTC userbase to shrink, leading to a bigger market cap and less adoption. Adoption and utility of BTC are more important than the BTC price.

Bitcoin is an asset and the price will only increase if demand increases. I don't understand what you mean when you say the price may increase but the user base will shrink, how is that possible? It's true that utility and adoption are important, but if we look at bitcoin as an investment, an asset, and saying price doesn't matter is inaccurate and dishonest.

2.Bitcoin is not a company. Why do you compare it to companies?

OP didn't make this comparison, he just pulled the data from another site. This comparison makes no sense because they belong to two different fields. But what they want to emphasize is that bitcoin's development is becoming stronger over time.

3.This 14% price increase won't stay for long. I'm sure that the price will go back below 30K USD and the bear market will continue.


But then it will continue to increase again and capitalization may reach $1 trillion or $2 trillion in the upcoming bull season.