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Hedraios 1y ago

(1) I think Bitcoin's fiat price is strongly impacted by people who value fiat more than Bitcoin, and see Bitcoin as a means to get more fiat:

fiat -> BTC -> FIAT

[repeat]

(2) But others value Bitcoin based on its own characteristics and utility, and these people are largely interested in only a one-way transaction:

fiat -> BTC.

#plebchain

#Bitcoin

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elbitcoinero 1y ago

I once heard Michael @Saylor say to Natalie Brunell that the price of #Bitcoin is set by those with too much money but little knowledge. So agregar with your theory.