Bitcoin is “off the chart” in terms of value-for-money as price diverges from hash rate, a market analyst says. Updating X followers on his Bitcoin Yardstick metric, Charles Edwards, founder of Bitcoin and digital asset hedge fund Capriole Investments, confirmed that it was in new territory. The Bitcoin Yardstick divides market cap by hash rate, normalized over a two-year period. The result is an expression of Bitcoin’s “value” at a given price point and hash rate level. “Similar in concept to a ‘PE Ratio,’ except instead of stock earnings, the Bitcoin Yardstick is taking the ratio of energy work done to secure the ... (full story)