Post by Draper Associates

Bitcoin might be worth an infinite amount of USD. During the Civil War, the South’s Confederate Dollar went through hyperinflation. After starting 1:1 with USD, it ended the war at over 10 million to 1. People lost faith and scrambled to trade their cash in for USD. The same might happen again, but with USD on the other end. And in the words of Tim Draper... forget gold. You can’t pay with gold at Starbucks. Governments are already hedging against this future by holding Bitcoin in their strategic reserves. If the system breaks down, you don’t want to be the one clamoring to withdraw cash from the bank or hoarding gold in your room.