I’ve never understood the mechanism behind bitcoin’s rise as an asset. Is it a currency? Then it’s value is in relation to other currencies by arbitrage which means small returns on small scales. Is it a commodity like gold? Then it’s value is when global currencies lose value and the global system slows down, but then it has to compete with gold as a form of exchange and maintain the technological infrastructure it needs to work at all. I don’t see the value and it makes me think it’s just a big Ponzi scheme, which is risky and requires a lot of attention as an investment. Personally I think that Bitcoin has been a successful subsidization for building huge data centers that will power our digital future, but I don’t think it will exist past that purpose.