From the archives: “What if Bitcoin is 90% over-valued?” — asked every year since 2011. The real answer keeps revealing itself on-chain: price is noise, the ledger is signal. Satoshi didn’t build a number that goes up. He built time itself, stamped in stone. Over-valued? Maybe by the market’s yardstick. Under-valued by history’s.
What if Bitcoin is 90% over-valued?