Bitcoin US$650,000 – CHAINLETTER 66
A look at bitcoin valuation through the lens of inverse volatility. A look at the Inverse Volatility of bitcoin and gold suggests to us that in relative terms bitcoin is massively undervalued. With gold at US$3,881/oz, bitcoin should be around US$650,000, a five-fold increase from here. Even if you disagree with the detail, that’s a huge margin of safety. Take a look at the calculations and let us know what you think.