[blueblob]

In my mind this comparison isn't exactly the right way of looking at it. Most of the early buyers who held on bought full shares of bitcoin before fractional shares were an option. The people buying it at 48,000 are likely buying fractional shares. So they're not necessarily invested at the full risk of losing such a significant amount of money. I think this is part of the reason it's going up.

[cableshaft]

Pretty sure it's always had fractional shares. I was following it somewhat back then. Granted, it was worth so little that most people didn't bother except for maybe the fees, but it was fractional by design from the start, I'm pretty sure.

Regardless of people buying fractional shares, I see plenty of people on the bitcoin subreddit going "I'm a noob at bitcoin, and FOMO bought 0.1/0.2/0.4 coin yesterday for $46k, did I make a mistake, is it about to drop?"

Those people are still putting in thousands of dollars, and some of those people probably aren't so financially stable that they feel comfortable seeing the price of bitcoin drop 20% in 48 hours like it did a month ago, they could end up selling and losing thousands of dollars as a result.

I only put in a little every month, money that I'd probably just waste otherwise, so I'm really happy it's up but I'm not super stressed when it drops. But I acknowledge that not everyone does what I do.

[blueblob]

Fair enough