2022 S&P 500 companies year-to-date. And people attack Bitcoin like it’s some kind of isolated failure.

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Here’s what I posted not long ago (when Bitcoin was at $32K):

**What I don’t get about investing in Bitcoins:**
Friend: “Hey, buddy! Found a great new investment opportunity for you!”
Me: “Tell me about it. What’s the price-to-earnings ratio?”
Friend: “Uhhhh…..actually, I guess it would be infinite.”
Me: “What? Doesn’t this investment have any earnings or profits or dividends?”
Friend: “Nope, nope, and nope.”
Me: “Oh, I get it. A start-up, right? Big plans for huge earnings and profits within 10 years!”
Friend: “Nope. No earnings or profits in 10 years. In fact, no earnings or profits ever!”
Me: “What? You’ve found some company which makes no earnings or profits now or ever, and you think that it’s a great investment? It sounds like investing in someone’s pet rock! BTW, what’s the share price?”
Friend: “Oh, about $32,000 a share.”
Me: “?????!!!!!”.


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