A year has past and you are updating your valuation valuation work on Bitcoin. You not that there are now 19 million Bitcoin outstanding. You check the network and see that there are 6.25 bitcoin mined every 10 minutes. To get an updated calibration of the Bitcoin Stock to Flow Model, you pull up the PlanB.com website and you find the following equation: P r i c e = 0.49 ( S 2 F )^ 3.18

1. What is the estimated value of Bitcoin using this method?

a. $5,200

b. $41,000

c. $128,000

d. $196,000