30s Summary

The value of Bitcoin hit a new record, but experts are not concerned about overpricing, according to Hunter Horsley, CEO of Bitwise Invest. He compares the cryptocurrency to company shares, explaining that when Bitcoin prices rise, confidence in its future success increases. The current Bitcoin price stands at $77,310, a rise of 13.52% in a week. Following the US elections, Bitcoin ETFs reported nearly $1.63 billion in inflows. Analysts believe Bitcoin’s upward trajectory will continue because unlike company shares, there’s no way to create more Bitcoin without buying more.

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Bitcoin is doing really well right now. Its value hit a new record this week, but that’s not making people worried about it being overpriced, according to some guy who really knows his stuff. Hunter Horsley, the boss of Bitwise Invest, explained that it’s not like with regular company shares.

He said, when a company’s shares go up, there’s usually a point when people think it’s too pricey and lose interest until the price drops. But Bitcoin doesn’t play by those rules. In fact, it’s the opposite! When Bitcoin’s price goes up, people are more sure that it’ll be successful, and even more valuable.

So, it might keep on growing, according to Horsley. Right now, Bitcoin is trading at 77,310 dollars a pop – that’s a 13.52% jump in just one week!

During the USA electoral week, spot Bitcoin ETFs in the US reported inflows of almost $1.63 billion. Other Bitcoin fans have said the same thing and aren’t afraid that it’s overvalued even though it broke its previous record back in March.

Like Robert Kiyosaki, the guy who wrote “Rich Dad, Poor Dad”. He’s planning to buy another 27 Bitcoins, regardless of how expensive it gets, by 2025. Meanwhile, Dan Tapiero, founder of 10T Holdings, basically agrees and even predicted that Bitcoin will reach 100,000 dollars no matter who ended up as President in the US elections.

As the value of Bitcoin keeps getting higher, some experts think it’ll continue with this momentum. “Infra”, a commentator on capital markets, pointed out that unlike company shares, no one can make more Bitcoin when its price goes up – the only way to get more is to pay more.

Even though Bitcoin’s cost is hitting the stratosphere, analysts don’t reckon it’s overdoing it. Alex Thorn, who’s in charge of research at Galaxy, said things don’t look out of hand. Likewise, Aurelie Barthere, an analyst at crypto analysis firm Nansen, sees Bitcoin’s new record as a good sign of ongoing positive momentum, especially after the elections.