Here’s bitcoin’s historical CAGR: 1 year: +57% 2 year: +77% 3 year: +76% 4 year: +15% 5 year: +51% 6 year: +51% 7 year: +50% 8 year: +41% 9 year: +75% 10 year: +75% Right now the Shiller P/E of the S&P 500 is 40x. The “P/E” of bitcoin growing at a 50% CAGR is 2x. Which one is a bubble?(Joe Burnett, MSBA)