In December 2013, Bank of America published a fair value assessment of Bitcoin, giving it a value of 1300USD.

Here is a link to the article: https://ciphrex.com/archive/bofa-bitcoin.pdf

To quickly summarise the article, BAML think that Bitcoin can be used effectively as a medium of exchange, taking market share from the likes of Paypal and Credit Card companies. I found the article very interesting and broadly agreed with BAMLs assessment.

I wanted to create a debate around whether people think the fair value is higher or lower than 1300USD. So please provide some fundamental reasoning behind your answers.