The difference is that if amazon is worth let's say 50 billion and they have 10 billion revenue and 9 billion operating costs then not paying out the excess 1 billion as dividends doesn't mean they magically disappear. A 50 billion company with 1 billion in the bank account is in reality a 51 billion company.
When a dividend is paid out the value of the stock is reduced by exactly the amount that is paid out.
If the money is used to buy more delivery infrastructure (trucks, buildings) the value of the stock remains the same.
From the perspective of a share holder who can sell his shares to someone else nothing has changed. You either have 50€ worth of stock plus 1€ or 51€ worth of stock.
With bitcoin there is no revenue that can be paid out or be invested. If bitcoin goes "bankrupt" what assets can you liquidate to obtain at least a fraction of it's value? How does it work?
The difference is that if amazon is worth let's say 50 billion and they have 10 billion revenue and 9 billion operating costs then not paying out the excess 1 billion as dividends doesn't mean they magically disappear. A 50 billion company with 1 billion in the bank account is in reality a 51 billion company.
When a dividend is paid out the value of the stock is reduced by exactly the amount that is paid out. If the money is used to buy more delivery infrastructure (trucks, buildings) the value of the stock remains the same. From the perspective of a share holder who can sell his shares to someone else nothing has changed. You either have 50€ worth of stock plus 1€ or 51€ worth of stock.
With bitcoin there is no revenue that can be paid out or be invested. If bitcoin goes "bankrupt" what assets can you liquidate to obtain at least a fraction of it's value? How does it work?