#40 PSR: The best Bitcoin value model you've never heard of

<p>Check out show sponsor Coinkite: https://coinkite.com/</p> <p>Donations to Porkopolis Economics via BTCPay appreciated: https://donations.porkopolis.io/</p> <p><br></p> <p>This is the fortieth video installment from Porkopolis Economics, covering macro and money, from the creator of the Crypto Voices podcast.</p> <p><br></p> <p>Contents</p> <p>00:00 Intro</p> <p>00:28 Origins of metric</p> <p>01:54 Numerator: Market cap ($)</p> <p>03:42 Denominator: Trailing-12 month miner network revenue ($)</p> <p>05:55 Ratio recap and importance</p> <p>09:10 "Price-to-sales" (PSR) ratio for Bitcoin</p> <p>10:30 PSR: All-time low</p> <p>16:20 PSR: All-time high</p> <p>19:37 Basic interpretation of low and high PSR</p> <p><br></p> <p>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.</p> <p><br></p> <p>https://porkopolis.io</p> <p>https://twitter.com/crypto_voices</p> <p><br></p> <p>Show content is not investment or financial advice in any way.</p>