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Ya'll are just pulling this dudes leg. Why would you EVER buy low? You're losing the experience of it all, you have to be deep in the water, and just take on more water for the full experience.
I can't be around ya'll anymore, giving bad advice. Psh.
No no, I'm suggesting he do what Saylor suggested, which is to convert Tesla and SpaceX's holdings from fiat to bitcoin.
And yes I know it's never gonna happen, cause I don't think he has the balls to do it.
Just because something seems meaningful to you doesn’t mean it actually is. Sorry to be snarky but that’s the truth
The value of Tesla stock is derived from the potential for future profits and therefore dividends. Bitcoin doesn’t have profits or dividends, instead the price is based on how useful people view it as a monetary asset. It’s just taking two large numbers and comparing them because they are both large. It also doesn’t make sense to compare Bitcoin mktcap to the GDP of smaller nations, which I often see as well.
The only comparisons that really make sense are other monetary assets and commodities. Precious metals like gold and silver, other currencies, and to a lesser extent oil and natgas.
I don’t get your point at all. That’s like saying you can’t measure the size of a gigafactory in Olympic swimming pools because it isn’t a swimming pool, or that you can’t compare the size of the Pacific garbage patch to a country because it isn’t a country. Since when do two things need to be the same thing to be able to compare them?
Its a pretty fair comparison to Tesla actually. Tesla is one of the most infamous hype stocks of all time with its valuation having almost nothing to do with its profits. Even people holding tesla know its overvalued. Elon was quoted saying that the second creditor's decide to adjust their funding, his stock will be like a souffle being hit with a sledgehammer.
Nobody knows how high Tesla will go, just like nobody knows how high bitcoin can go. If there was any stock that could be compared to bitcoin its TSLA.
Tesla is the only successful us car company right now. It's the first successful electric car company. It's the first major car company to emerge in the US in decades. It's also a tech company in its growth phase, so it shouldn't be expected to be making profits. The stock price is based on what people think future profits will be. Today's profits are literally irrelevant.
I think you're right that it's a reasonably comparison, but not for the reason you gave. They're both speculative assets because their current value is quite far from their potential future value, and they're not yet mature. If you understand the utility of bitcoin, what products and services it can replace etc, then you can indeed estimate how high bitcoin can go. Same with Tesla. Estimating things like this isn't rocket science. It's just looking at competitors they could replace.