Some time ago, I purchased a bitcoin for a little under $300,- CAD. My reasoning went like this:
- There is a non-zero chance of bitcoin replacing USD as default currency. Let's put it at 1 in 1000.
- There is a hard limit of 21M bitcoins.
- If in 2030, the world uses bitcoins, then those 21M coins will represent the entire money supply of the world's default currency.
- My 1 bitcoin will represent 1/21Mth of the world's money in 2030, with a 1:1000 chance.
- The world money supply divided by 21M and then divided by 1000, is still worth a lot more than the $300,- I paid for it.