"Apple's price has grown 1457x since 1996, while its price-to-sales ratio has grown 30 times," wrote Timmer, adding:
"If the growth in valuation is an exponent of the growth in sales , then price should increase as an exponent of both metrics."Applying the same metrics on the Bitcoin network returned impressive growth. For instance, Fidelity found that Bitcoin's price had surged 640,633x from inception until the end of 2021. While its price-to-network ratio, a supposed equivalent of the price-to-sales ratio, came out to be 52, up almost 867 times in the same period."If we apply Metcalfe's Law and calculate the square of 867, we get 751,111, noted Timmer, highlighting that it is"roughly in line with the 640,633x realized price gain.
The stark similarities in the rise of Bitcoin and Apple networks — based on their price and price-to-sales/network ratios — prompted Timmer to hint at long-term growth in the Bitcoin market. Additionally, the veteran analyst pitted demand curves of mobile phone subscriptions and internet adoption against Bitcoin to draw similar conclusions, suggesting that
Source: Digital Coin News (digitalcoinnews.net)
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