I feel like everybody is missing the crucial reason why BTSX will be worth so much. The reason is simple: bitAssets are backed by at least 1.5 times their value in shares of BTSX, so the market cap of BTSX will always be at least 1.5 times greater than the total market cap of all bitAssets.
You could think of it like this: every time someone creates 1 bitUSD, they put up $2 worth of BTSX as collateral. This collateral is unspendable until the bitUSD loan is repaid, so those shares of BTSX have effectively been removed from the share supply. It's as though they've been temporarily burned, Whig reduces the overall supply of BTSX, driving up the per-share price.
Make sense? BTSX is valuable because its value is more or less proportional to bitAsset demand.
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