RE: fundamental5 Jan 2021 19:33
Add to the fact the historic bitcoin doubling has happened. History shows it's value increases and history is repeating. Bitcoin is being accepted more and more and even Paypal are adopting it. Institutions are getting on board. Money is being printed, Bitcoins are getting harder to mine. Simple supply and demand. Demand for Bitcoin will continue to increase. Through ARB or other miners, It is the only way to have exposure to Bitcoin in an ISA or SIPP. With predictions of $100k and higher bitcoin, people are more than willing to pay what is not much of a premium at a PE of 20 for now, which is conservative for a tech growth stock, hence the USA interest.
As for the use and demand for Bitcoin, with Paypal adopting it, I for one will start to accept as payment for my services (teaching) which I mostly use Paypal for. I imagine people with Bitcoin holdings will start to spend it more as it becomes easier to use increasing it's radius further.
When the money printing bubble comes home to roost, more people will want to use the token that is Bitcoin to trade goods and services. Say 30 years out. I wouldn't be surprised if a Micro Bitcoin was worth a penny. You heard it here first haha. Mining will finish in 2140 so were OK for now with our investment.
Bitcoin – BTC – (1 full Bitcoin)
MilliBitcoin – mBTC – (1 thousandth of a BTC)
MicroBitcoin – uBTC – (1 millionth of a BTC)