David Rosenthal
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Appearances Over Time
Podcast Appearances
was an incredible trade for two reasons.
Those are based on Forbes valuations.
I think any actual trade would have to be higher than that.
The reason number one is just scarcity value.
There are a finite number of these things and they're not making more.
And there are a lot of people that want to own them for a lot of reasons, not all of which are economic.
That is a net present happiness value positive trade for a lot of billionaires.
Which means that a change in sentiment among that very narrow market will have a huge impact.
But for now, I think the valuations are probably safe.
I just don't think you're going to see these things.
No, they're not going to trade at fire sale prices.