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Reply to "If you have more than a million in investments, have you purchased BITCOIN in any form? if so how much?"
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[quote=Anonymous]Things have value because we agree they do. The Mona Lisa has no "intrinsic value" but is "worth" a billion dollars. Gold has no "intrinsic" value but has been used as a store of value since the earliest civilizations. The dollar has no "intrinsic" value but is the global reserve currency and is supported by oil pricing and a large military, among other things. With each of these things humanity collectively agrees on the value. Same with Bitcoin. Even though it is a highly complex software program/blockchain, people agree it is worth $100K per Bitcoin. As Jay Powell just said, it now competes with gold as an alternative mechanism for storing value. Not sure why this is so controversial or annoys certain people so much. [/quote]
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