Bitcoin’s long-term fundamentals are intact.
fixed supply, decentralisation, network effect, scarcity, distribution of hashrate, growing adoption.
none of this changes with a price dip or top.
mNAV is what happens when fiat accountants try to quantify digital scarcity using Excel templates designed for banana inventories.
ChatGPT 😀.
Study Bitcoin
The two famous models to track BTC/FIAT are suffering rn:
-ln(Price)=a+b⋅ln(S2F)
-ln(Price)=α+β⋅ln(Time)
“All models are wrong, but some are useful.” George Box
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