Purchasing power does matter. It just happens to generally be denominated in USD. But I suspect if we measured in pounds of beef, eggs, or some other common necessity in life instead of dollars, the results would be similar.
Discussion
Idk man, the guy already said that “cantillionaires aping in” doesn’t make it more valuable. He’s arguing about how much value he feels it should have, not anything measurable, and that the market value or purchasing power is merely a result of fiat manipulation. Whatever you say bro
sure maybe.
the whole point is without a hard money UoA pricing is (often) broken.