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Originally Posted by island911
As far as it going up, sure. Just look at the valuation on Tesla stock. So many people looking for a place to park excess cash, that excess cash pumps up everything.. Again, that's pyramid building, IMO, not investment. Investment has tangible future utility.
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The other attractive thing about crypto currencies like BTC, ETH, etc. is that their supply is limited. Unlike fiat which governments continue to print more and more of. Cryptocurrency is Proof of Work (PoW) or Proof of Ownership (Staking). Some coins like Etherium or Hive have utility on their respective networks, others are just being created as cash sinks (Kanye's coin, Doge Coin, other ICOs). Some have actually done well to become commodities of exchange like Monero and Raven. They are growing in "value" rapidly because fiat currencies are decreasing in value.
We haven't had a "standard" which backed our currency in 5 decades. And given the popularity of cryptocurrency now having exchange value globally, it's no surprise that wealthy whales are are starting to shift cash value there.