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Bitcoin has no cash flows, no earnings, no coupon, and no issuer. Yet four distinct valuation frameworks, drawn from physics, global wealth accounting, mathematical scarcity, and classical monetary economics, have emerged to value it. Each arrives at a different number. All of them are useful. None of them is complete.
This whitepaper examines Mexico's Retirement Savings System (SAR), a fragmented and underperforming framework that leaves millions vulnerable to inadequate retirement security.