DB:
- Those few words caused bitcoin’s value to plummet from nearly $60,000 in the days before to below $48,000
- on Tuesday, the PBoC reiterated that it would ban digital tokens as a means of payment, thus causing Bitcoin to plunge just above $30,000 at one point
DB then argues that
- the real debate is whether rising valuations alone can be reason enough for bitcoin to evolve into an asset class, or whether its illiquidity is an obstacle
- the value of bitcoin is entirely based on wishful thinking
Hmmmm. DB not mentioning other cryptos now competing with BTC, other cryptos with higher utility (can be used for reliably for payments etc., see this here: Bitcoin crumbles after Elon Musk bails. Why it may never recover).
