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It has value because people believe it does. Same concept as what's going on in the sports card market. People are paying insane money for a piece of cardboard with a picture on it ultimately because they believe there will be an even bigger fool in the future willing to pay more. As someone who isn't into cards, I think they are worthless but at the end of the day they are scarce and finite and there is a market for it and people are making real money. Apply that to bitcoin.
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