So those who say paid say $700AUS for one bit coin not so long ago now have a purchasing power of $484US
You can apply that logic to dozens of ASX listed companies.
It depends on what you mean by 'not long ago'.
I prefer six months ago, when it could be bought for $132, or a year ago when it was just a few dollars.
If you are negative on bitcoin, there are literally hundreds of bad news stories around, a few new ones every day.
The precise reason bitcoin attracted me is the way in which it has weathered bad news, but continually shrugs it off. That's just another way of saying that there are enough enthusiasts with deep pockets to keep it going. Is the money flowing from the weak holders to the strong? Are early buyers for a few dollars taking profits? What are the buyers of today doing? Around $500 is still serious money.
The weight of bad news stories is why you can still buy MEJ for a few cents.
By the way, comparing DigitalBTC, the new company, with SMA, Digi8, VIL, or MEJ today, is an apples and oranges comparison.
Once the deal is completed, DigitalBTC will have new directors, a new business, and be the first and only company of its type listed in Australia, and maybe the world. I don't know of any similar listed company anywhere.
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