Here you can clearly see the different eras in . Recent investments in to BITPAY by some very notable billionaires is worth paying attention to when you look at what Marc Andreessen states in his response to Warren Buffets misread on the value of . Andreessen is 100% accurate in his understanding of valuation.
Andreessen states, "The market cap of the ledger needs to be high enough to accommodate all of the value that wants to PASS THROUGH it in any period of time ( & velocity of value passing through)" -
"So then, the intrinsic value of a is emergent from the functional value of the ledger as a way to exchange value (or, more accurately, emergent from the collective forecast of future & velocity of value that will pass through the ledger)"
See chart for additional details.