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Comment by jedberg | Hacker News Reader

> but is there any reason you would immediately need that much?

Because you worry that BTC will crash and want it in something more stable?

BTC is volatile but it isn't going to crash tomorrow or any time soon at least not by the amount that would make sense to sell with a wallet this old.

Compared to the “Magnificent Seven”, Bitcoin’s volatility has put it in the middle, while it’s performance puts it at or near the top depending on the time window.

https://www.fidelitydigitalassets.com/research-and-insights/...

https://www.fool.com/investing/2024/03/06/bitcoin-has-been-a...

I find it odd that someone would make a comparison between bitcoin and other financial assets, as if bitcoin was just another financial asset and its theoretical price wasn't zero... which is a pretty big market anomaly. Normally, when you find a market anomaly, you try to explain it. But these analysts, they pretend that there's no anomaly. They just don't talk about it, in the hopes that nobody will notice.

Well, what should they compare it to then?

Good has a value much higher than its use and most of its current value is just the faith that it is a store of value.

But I don't find odd comparing gold's return to s&p

It could be compared to other assets in the asset class of assets that have no intrinsic value (e.g. other crypto-currencies). I think that would make sense.

Well, one way to lower the price would be to put eight billion on the market all at once.

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