I don't find any value in having a interaction with you, if you haven't noticed I don't reply to your bullsh*t posts, but you messaged me on this one so... Anyway, time lost, again....
Going Ad Hominem rarely has the effect one desires. Are you short BTC? It would be the no-brainer trade for a BTC perma-bear. Let us know your entry since we know your target.
You still can't back up your fake Fidelity claim. Others can make up their own mind. I don't short bubbles. No way to know how far they go especially in this highly speculative environment. Easier to make money on the long side.
Always keep a sense of humor, It's good for health. Bitcoiners after watching Raoul Pal's latest interview -
2020 has been great for bitcoin (cryptos) We're kinda stuck above 18K but below 20K for a while now, which is causing some anxieties (see bitcoin price thread). I'm trying to keep busy at work, but I'm also doing some what ifs scenarios planning for when we break to the upside. [If it's to the downside, plan is much easier which is to continue to hodl ] Hope cryptos hodlers are prepared for different things that can happen especially next year, US political stuff notwithstanding and possible stock market gyrations. I'm going to schedule a 3 hour appointment with our tax accountant and have a list of questions, something to consider for US folks.
I find it surprising that Paul Tudor Jones would evaluate crypto in line with equities. Crypto has no such characteristics of equities that can provide insight to its valuation. No balance sheet, no cash flow, no income statement. What crypto is , at least in the case of BTC and LTC, is a commodity. Bitcoin like Litecoin is a commodity that will be used to either store value or buy goods and services. That said, the prices of BTC compared to LTC are so out of whack. It is a pure example of a bubble market in BTC. The actual equilibrium price of LTC as of now should be around 8,000 dollars since it has 4X more float than BTC. In 20 years no one is going to care if you buy their house with Bitcoin or Litecoin (its like paying someone in either 100 dollar bills or 20 dollar bills) either will be considered for payment and you dont need a wheel barrow to close the deal.
That is a strange thing to say by Jones. Obviously you can can't do a valuation but only price BTC. I don't know if I can get with BTC being a commodity though. I am just good with saying it is a new asset class and not trying to think in relation to something else. The way to price it to me would be like an option on some future use. Since we don't even know what that use ultimately settles out to be I can't really think of a better price than the market price. The only way I can think of representing the price is with a uniform distribution between 0 and whatever upper bound you feel like throwing out there. 1 million, 2 billion, anything. When someone says BTC is going to 0 I agree in a sense. When someone says BTC is going to 500k, I agree in a sense. I just don't see how anyone can say any one of these prices is more likely than another on say a 50 year time frame.
Futures option is a interesting way of thinking about it... BTC and LTC can be commmoditized if the prices acheive equilibrium since equivalent value is required to be fungible. Either way I see the CFTC getting in on this when it happens.