Today’s market movements make me think of the old #Saylor quote -
“Bitcoin is channeling human ingenuity into making it better, and every commodity is channeling human energy into making it worse (as a money)”
To explain this. Consider computer chips a form of commodity. In #Nvidia you have a clear sector leader that the market has been treating as a form of money.
Long term though, all the huge Nvidia valuation says to the rest of the world is - come and innovate and compete for our huge valuation, and have at it. That ingenuity will make Nvidia worse as a form of money. The signs may already be here.
#bitcoin
#money