PE40: PSR – The best Bitcoin value model you’ve never heard of

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Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/ This is the fortieth video installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast. Contents
00:00 Intro
00:28 Origins of metric
01:54 Numerator: Market cap ($)
03:42 Denominator: Trailing-12 month miner network revenue ($)
05:55 Ratio recap and importance
09:10 “Price-to-sales” (PSR) ratio for Bitcoin
10:30 PSR: All-time low
16:20 PSR: All-time high
19:37 Basic interpretation of low and high PSR Here we compare the Bitcoin network supply in USD-terms (otherwise known as the market cap) with the miner trailing-12 month revenue (block reward + fees) across the entire network. This gives us a gross “Price-to-sales” ratio; in other words, how many multiples the network is worth versus network-wide revenues, at any given time. https://porkopolis.io
https://twitter.com/crypto_voices Show content is not investment or financial advice in any way.

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• Source: https://podcasters.spotify.com/pod/show/porkopolis/episodes/PE40-PSR—The-best-Bitcoin-value-model-youve-never-heard-of-e203vhg