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The basis is the general performance of Bitcoin since its inception. You can look up the chart yourself, use the googley and choose 'log' view...

You're trying to compare to stocks and performance in the Era of Uber.

I can't help but think you jest. If Bitcoin had a Crack team of VC marketers on the doll you would be buying.

It is hilarious to hear the arguments that point to a rational stock market or valuation based on "performance". You clearly don't participate in the stock market.