is currently priced at $60,000. The high price might not make sense at first glance, but it’s not completely outlandish. Because bitcoin is a decentralized form of currency that is unregulated by any government, its price tends to rise in response during times of crisis or when people start losing faith in government.
And in recent times, we’ve been seeing a lot of that. COVID-19 is an unprecedented global pandemic, which counts as a crisis. The increasingly bipolar state of US politics leads around half the country to distrust the other half, which counts as lost faith in government.
Plus, with uncertainty in the economy, that only fuels the greater need for alternative forms of holding value.
Now, it’s obviously hard to tell what’s going to happen in the future since no one can consistently accurately predict the future.
I could use the solar energy to mine bitcoin and make a nice little profit (passive income!), but that’s only assuming bitcoin remains relevant. Otherwise, it would be a bust.
I haven’t decided on this yet, but if I do want to mine bitcoin, my house would now look like this: