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Today I stumbled across this nice chart, which shows how small Bitcoin still is, compared to traditional assets:

https://twitter.com/JonathanBeuys/status/1722637010718822902

And yet the trading volume somehow dwarfs the NYSE. Surely it is all legit.

What type of not "legit" trading do you suspect?

Coinbase has 100M customers and less than $1B daily trading volume. $10 per customer per day does not seem unusual. It is an average of less than $4000 per year.

They suspect fake trades, from one person to themselves. They can pay any price because no real money changes hands, aside from commissions. The presumed goal is to make it appear as if there is high demand.

Traditional assets, like:

- Real estate

- Gold

- Art

- Collectibles

- Shares in companies

- Loans to companies and countries

So... Things with intrinsic value and often tangible uses. The only thing in that graph somewhat comparable to Bitcoin is money, since it's also part store of value, part currency.

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