Back when it was briefly 18k I had the thought: would I be more worried if I owned bitcoin at this price or if I didn't own any? It was clearly overvalued at the time and price increasing too quickly but infrastructure keeps on increasing all the time (e.g. more exchanges, hedge funds, tech startups, and retailers getting involved in the crypto ecosystem), and every day that it survives both adds to its legitimacy and liklihood of succeeding. And if it succeeds the payoffs will be immense: since there is a maximum of 21 million BTC, it is impossible for every million to even own a whole BTC, so we could imagine fractional amounts being worth tens or even hundreds of thousand USD. It's also arguable that it has reached a large enough size where its growth increases further investment and a self-reinforcing cycle. In a lot of ways it is like a Silicon Valley startup like Uber or AirBnB that is big enough where huge payoffs are possible, but there are still many possible mistakes that could be made that doom the endeavor.
Just some rambling thoughts.
I don't really follow Bitcoin, but I know lots here do, so I saw the link and added it. It's probably thee future though, I should get interested. The most I ever did was mine some for Phuks on occasion.