The Price of Bitcoin Doesn’t Matter Right Now

The price of Bitcoin has taken bit of a dive over the last couple of days, shedding over 20 percent of its value in the last 24 hours. The sell-off, like other sell-offs and rallies before it, draws a lot of attention and questions about what it means for the future of the technology. Here’s why I don’t focus on price much.

Bitcoin is best thought of as a 5- to 10-year project, and we’re at the very early stages. An (admittedly imperfect) analogy is the early Web.

Like the early Web, Bitcoin is an open platform that no one owns, and on top of which anyone can build without having to get anyone else’s permission. And just like the early Web, success requires investors, entrepreneurs, and developers to build out the infrastructure and applications that will make it useful to average users… CONTINUE