/biz/ - Business & Finance

One day, very soon, all these 15-25 year olds who are putting their spare money into Bitcoin are going to wake up and ask:

Why am I paying $15K for one unit of internet monopoly money?

Right now the only reason people are buying bitcoin is because of the classic Bigger Fool theory:

https://en.wikipedia.org/wiki/Greater_fool_theory

It has no utility as an asset. It has no utility as a store of value, no currency whose value fluctuates by more than 5% on the daily is going to be useful to any serious business to do any serious volume with. People are purely buying it speculating that someone else is going to buy it higher to sell it to someone else for higher, but nobody is actually using what they are buying.

If you made a profit, cash out now. At some point you run out of bigger fools.