The Big “Buy & Hype” Bitcoin Casino

by Wolf Richter
Wolf Street

Bitcoin was trading at $57,000 when I recorded and posted the podcast on Sunday, February 21. Now, as I’m posting the transcript of that podcast, bitcoin is trading at $46,000. So the numbers in the podcast are a little off. But it makes one of my points.

So bitcoin is trading at about 57,000 bucks at the moment. Its market cap is over $1 trillion. This glorious moment jogged my memory, so I dug up that old email. Back in August 2012, I was contacted via my website by some guy about bitcoin. At the time, bitcoin was at 10 bucks.

He wanted to buy my book and pay with bitcoin. So for the paperback, which sells for about 15 bucks on Amazon, he would have had to fork over 1 and a half bitcoin. So today, the proceeds from the sale of that paperback would be around 85,000 despised fiat dollars.

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